Franklin Templeton has opened its contact office in Jeonju, Korea and has started operations.
Franklin Templeton announced plans to open the office in January.
Franklin Templeton opened the office to support the National Pension Service (NPS) of Korea, for whom it is an external asset manager.
The new office will support NPS by carrying out market research and analysis among other things.
Franklin Templeton has had a foothold in Korea for more than 25 years as the first foreign asset management company to set up operations there.
“The opening of the Franklin Templeton Jeonju contact office will further facilitate the swift communication and sharing of important information between the two organisations. We hope that more financial companies will join us in creating a vibrant financial ecosystem in Jeonbuk Innovation City,” said Tae-hyun Kim, chairman and chief executive officer of NPS
“The opening of the Jeonju contact office enables us to strengthen our local servicing capabilities and cooperation with long-standing clients such as NPS. We are a business that focuses on long-term relationships and this move reaffirms our commitment to being the trusted partner to our clients in the Asia Pacific region,” said Tariq Ahmad, co-head of Asia Pacific at Franklin Templeton.