PALO ALTO, Calif., October 28, 2022 (Newswire.com) - Shinhan Securities Co., Ltd., led by Executive Directors Lee Yung Chang and Kim Sang Tae, hosted a ceremony on Oct. 25 to celebrate the opening of a new overseas office in Silicon Valley in the United States. It is the first South Korean securities firm to establish a presence in this region.
With the opening of Shinhan Securities Silicon Valley Representative Office, the firm hopes to grow along with the local venture ecosystem and expand its global network by establishing a tight-knit relationship with venture capitals and startups in Silicon Valley.
Shinhan Securities anticipates that its presence in Silicon Valley would greatly support small- to medium-sized Korean businesses in search of contact points with overseas ventures. Focusing on Korean companies that have the technology but find it difficult to make inroads into foreign markets, Shinhan Securities plans to roll out a variety of services, including facilitating collaboration with promising Silicon Valley startups, facilitating investment opportunities, and providing information through research on technology trends in Silicon Valley.
Furthermore, the region will serve as an outpost to Shinhan Securities in an effort to build up a global venture ecosystem connecting Korean startups to foreign markets, bolstered by the firm's enterprise-wide strength and Shinhan Financial Group's global network.
"Uncertainty has been growing in the global financial market recently. But Silicon Valley—a place where the world's best minds and technology come together—will not stop innovating and growing," stated Lee Yung Chang, President of Shinhan Securities, at the opening ceremony. "Our initial focus will be on thorough local market research and establishing a robust network, and this will serve as a foundation for harnessing the investing power and investment banking expertise of Shinhan Securities' headquarters to sow the seeds of investment for our future in Silicon Valley," he explained.
The ceremony was attended by the consul general of the Republic of Korea in San Francisco, Palo Alto city council member, and regional heads of KDB Silicon Valley, KIC San Francisco, LG Technology Ventures and SK Hynix Ventures already operating in the area as well as about 30 notable Korean Americans and local venture capitalists, who celebrated the establishment of Shinhan Securities' presence in Silicon Valley and agreed to explore opportunities for expanding the venture ecosystem by engaging Shinhan Securities.
Shinhan Securities currently operates local corporations in New York, Hongkong, Vietnam, and Indonesia and operates a Shanghai Office in China. It continues to expand its global business areas with the addition of the Silicon Valley Office.
Source: Shinhan Securities