Hyundai Securities opens subsidiary in Singapore

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Hyundai Securities opens subsidiary in Singapore

Hyundai Securities said it has opened a subsidiary in Singapore as part of efforts to seek new revenue outside of Korea, where the market has been struggling due to sluggish economic growth.

Hyundai Securities said its local subsidiary will operate two businesses - one managing hedge funds and the other specializing in trading derivatives and raw materials.

“We will break from the limited Korean market and aggressively invest in Asia,” said Hyundai Securities President Yoon Kyeong-eun.

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