Agricultural Bank of China, one of the China's "Big Four" banks, has opened its branch in Seoul, South Korea to be the first ABC operating institution in Northeast Asia.

The launch of the Seoul office strengthens the bank's overseas development strategy and enhances its Northeast Asia presence. It will focus on corporate deposits, bank loans, bilateral loans, trade finance, international settlements and other wholesale businesses, including economic and trade exchanges between firms in China and the Republic of Korea. 

The two countries have existing bilateral trade agreements, which in 2011 totalled $220.631 billion. Korea's direct investment in China reached $2.5 billion on the same year, ranking it sixth among major countries and regions with Mainland investments. 

Agricultural Bank of China has 10 overseas institutions in eight countries and maintains correspondent bank relationships with 1,365 banks in 111 countries.