Korean lender Woori Bank announced Wednesday that it would open a trading center in London in June, aiming to adapt to changes in global financial markets and explore new revenue opportunities.

The new London Trading Center will expand on the bank’s existing London FX Desk, established last July, to handle foreign exchange trading, investments in securities and derivatives as well as currency exchange and risk management services, the company said.

To facilitate the project, the bank formed a dedicated task force earlier this month. By tapping into London’s highly liquid financial market, Woori anticipates the new center to diversify Woori’s asset management strategies and expand its presence in international markets.

The facility will also act as a hub for strengthening ties with key clients, such as Korean financial institutions operating abroad, overseas branches of Korean companies and foreign investors.

Woori Bank added that the plan aligns with the Korean government’s ongoing efforts to modernize the country’s foreign exchange market and secure global recognition for its government bonds by including them in the World Government Bond Index.

“With this new trading center, we aim to secure additional revenue streams and diversify our non-interest income,” Park Hyung-woo, vice president of Woori Bank’s capital markets division, said.

“Woori Bank remains committed to supporting the government’s financial reform policies and contributing to the growth of Korea’s financial industry.”