Take context from the input text and decide on the accurate relationship between 'Samsung' and 'Seoul' from the options provided.
Options: parent organization, stock exchange, distributed by, location of formation

“Economic growth has remained sluggish despite multiple rate cuts, which indicates the limited effects the cuts have had,” said Shin Hong Sup, a fixed-income strategist in Seoul at Samsung Securities Co., South Korea’s second-biggest brokerage by market value.
location of formation