Morgan Stanley today opened a branch office in Seoul, South Korea, and...

Morgan Stanley today opened a branch office in Seoul, South Korea, and joined the Korea Stock Exchange, making it the first U.S. investment bank to have an independent seat on the exchange, the company said. Morgan Stanley previously had a representative office in Seoul. Morgan Stanley's branch license, granted in February by Korea's Ministry of Finance and Economy, allows the firm to act as a full broker-dealer as well as a domestic underwriter. Membership of the Korea Stock Exchange will allow Morgan Stanley to execute trades directly on the exchange floor.