Refer to the input text as context and select the correct relationship between 'Samsung' and 'Seoul' from the available options.
Options: parent organization, distributed by, location of formation, stock exchange

“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