BNY Mellon is moving its Korean headquarters to the International Finance Centre in Seoul to bring all of its operations in the country under a single roof.

Slated to be completed by 2012, the new office overlooks the Han River and is designed to be a mixed-use complex under the development of AIG Global Real Estate. The project is a key component in the government's plan to revive the Yeouido area and position it as a regional international financial centre, the firm said in a statement.

"This move marks the beginning of an exciting new chapter for BNY Mellon in Korea, which is an important market for us," said Steve Lackey, the chairman for Asia-Pacific.

BNY Mellon first opened in Seoul through the takeover of Irving Trust Company in 1989. In 2006, it opened an asset management representative office and then received approval from the Financial Services Commision for a discretionary investment management license in 2010.