Samsung Securities pulls plug on international expansion

Little more than two years after launching an ambitious expansion plan outside Korea, Samsung Securities told employees yesterday that it will refocus its attention on its home market.

Samsung Securities pulls plug on international expansion
Samsung Securities: surrendering international ambitions

Samsung Securities is shutting down almost all of its operations outside Korea, putting a stop to an aggressive expansion that had aimed to create a leading regional player in Asia by 2015 and one of the top 10 financial players worldwide by 2020. The decision, which came as a shock both to employees and the market, was communicated internally yesterday afternoon and sources said a formal announcement will be issued this morning.

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