Samsung Asset Management to set up two subsidiaries

[THE INVESTOR] Samsung Asset Management is to establish two spinoff subsidiaries on Jan. 1.

Samsung Asset Management said on Aug. 19 that the move is aimed at increasing the efficiency of its businesses.

One of the subsidiaries tentatively named Active Asset Management will be established with 30 billion won (US$ 26.76 million) capital, and it will specialize in collective investment and investment consultations, the company said.