Foreign firms enter Korean securities industry

Restructuring and liberalization of the financial sector bring two opportunities for foreign investors.
Agreements announced this week will see foreign investors take a controlling interest in two Korean securities companies ûáIleun Securities and Hyundai Securities. And although the size of these deals are markedly different, they both result from a need for cash by conglomerates trying to restructure their finances and government bodies bailing out banks.

A group led by American International Group AIG and W L Ross have proposed to increase their investment in three financial units, currently controlled by the Hyundai conglomerate, to W1.1 trillion $1 billion. If the deal goes ahead after the investors have examined Hyundai SecuritiesÆ accounts, it will give the foreigners the largest stake û 23.7% û in Hyundai Securities,...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222