US asset manager Franklin Templeton will further expand its presence in South Korea with the opening of a new office in Jeonju.
In the first half of 2023, Franklin Templeton will open a new office in Jeonju, according to a statement, in order to strengthen its relationship and cooperation with the National Pension Service of Korea (NPS).
Jeonju is located in the western Jeollabuk-do province of South Korea and is home to the headquarters of NPS.
Contact Office
The contact office will act in a liaison function to support NPS in areas including market research and analysis. In addition, Franklin Templeton will also look to contribute to the broader development in Jeollabuk-do.
«Franklin Templeton’s Jeonju office will not just strengthen their lines of communication and collaboration with NPS but will also play an important role in the overall development of the local financial services sector and the wider community in Jeollabuk-do Province,» said NPS chairman and chief executive Tae-hyun Kim.
Since 1997
Franklin Templeton established a presence in South Korea after setting up its first office in Seoul in 1997. Since then, it has established a joint venture with Hana Financial Group in 2006 and a strategic partnership with Woori Asset Management in 2021.
«As a key market for Franklin Templeton in the Asia Pacific region, Korea presents us with huge opportunities and we are extremely pleased to announce the opening of our contact office in Jeonju,» said the firm’s president and CEO Jenny Johnson.
Franklin Templeton has offices in over 30 countries housing approximately 1,300 investment professionals. As of 30 November 2022, the California-based company had around $1.4 trillion in assets under management.
