Global Market: Financial firms shift Asia expansion focus to South Korea, take cautious stance on China and India

A survey by ASIFMA and KPMG of 34 global financial firms shows South Korea's expansion appeal more than doubling to roughly 50% from 21% a year ago, while interest in expanding operations in China and India has moderated. Respondents cited regulatory complexity, KYC requirements and non-deliverable forwards restrictions as key challenges for India, though commercial opportunities remain significant. Around two-thirds of surveyed firms plan to expand Asia-Pacific operations over the next three years, increasingly favouring markets with regulatory clarity and stable policy environments.