NH Investment wins approval to launch private equity unit

[THE INVESTOR] South Korea’s brokerage firm NH Investment & Securities has clinched a license to operate a private equity investment arm in a move to pursue high returns amid a stagnant stock market, the nation’s top financial regulator said on Aug. 5.

This is the first time that Financial Services Commission has given permission to a local securities company since the regulator announced a set of measures to encourage local brokerage firms to enter PEF business in May to boost their competitiveness. 

Unbound by government-imposed restrictions, two more brokerage houses are currently being screening for approval.

By Park Han-na (hnpark@heraldcorp.com)