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Member, Beacon International Group, Ltd.
Germany-based insurer Allianz Global Corporate & Specialty S.E. has opened a new branch in South Korea after receiving regulatory approval from the country's financial regulator Financial Services Commission, ITIJ.tv reported. "A local South Korean branch will play a key role in our Asian growth strategy," said Carsten Scheffel, board member and Asian chief regions and markets officer at AGCS. "The local office in Seoul will allow us to serve both local South Korean and global companies with South Korean interests much more efficiently," Mr. Scheffel said.