Growing Viet Nam attracts RoK securities company
Viet Nam’s rapid economic growth, especially the blooming stock market, is the main reason for the Korea Investment & Securities Co. Ltd (KIS), one of the Republic of Korea (RoK)’s four leading securities firms, to decide to open its representative office in Ho Chi Minh City.
The statement was made by KIS Chief Executive Officer James Sang-Ho Ryu on the sidelines of the opening ceremony of the company’s rep. office on September 12.
Viet Nam’s potential for development, its economic growth rate of 8 percent in recent years, will bolster the country’s stock market, he said, adding a recent KIS report showed that companies which are listing on Viet Nam’s stock market enjoy a growth of over 50 percent.
KIS’s rep. office in Ho Chi Minh City will conduct market research, seek business opportunities and build up relationships with Government agencies and other RoK companies invested in Viet Nam.
“By kicking off the operation of our rep. office in Viet Nam, we will open other rep. offices in emerging economies on the Indochina Peninsula such as Laos and Cambodia,” said Sang-Ho Ryu.
In 2006, KIS became the first RoK firm to launch an investment fund in Viet Nam. To date, the company has opened seven funds worth 1.1 billion USD in total in the Southeast Asian country. The funds focus on securities, real estate and mining, and are currently managed by KIS subsidiary Korea Investment Trust Management Co. Ltd (KITMC).
KIS now has a 2,300-strong staff and manages a total property of 60 billion USD. (VNA)
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