GFI Group has opened an office in Seoul to broker Korean interest-rate swaps and deliverable and non-deliverable forwards.

Elisha Choi will head the office, which will operate under the name GFI Korea Money Brokerage. Choi was previously based in the broker's Singapore office, where she headed the Korean desk for two years. She reports to Jurgen Breuer, GFI's senior managing director for Asia.

"GFI is continually looking to apply its brokering and technology expertise to new opportunities in Asia and we have been focusing on Korea for some time," says Breuer, who adds that GFI is planning to add further products in Korea, such as credit derivatives and equity options.

To start, the office will comprise 18 broking, technology and support staff, and will be the broker's fourth office in Asia after Hong Kong, Singapore and Tokyo.