Morgan Stanley gains Korean banking license

Morgan Stanley has opened a branch office of Morgan Stanley Bank International in Seoul. The new office, which was opened late last week, cements a 13-year history in the country. In addition to the bank's existing investment banking and private equity businesses, the new license will allow it to offer a wider variety of products including foreign exchange, loans, deposits and financial derivatives. Acting President Zoe Cruz, who attended the opening commented, "Korea is a key s…