SEOUL -- NH Investment & Securities, a major securities firm in South Korea, revealed its strong intention to do business in China's financial market by establishing a joint venture, saying the domestic investment banking sector should enhance global competitiveness and increase its asset portfolio overseas.
"We are preparing to establish a joint securities company with a Chinese securities company," NH Investment CEO Jeong Young-chae said in a China-related investment forum in Seoul on Monday. NH Investment offers a broad range of financial services, encompassing wealth management, investment banking, brokerage and merchant banking through domestic branches and overseas subsidiaries.
"I met with Chinese institutional investors 12 years ago and told them that my dream was to invest one-third of our company's overseas investment in China within three years," Jeong said, adding he still hopes to make a big investment in China.
South Korea's investment banking sector is still in its beginning stage, Jeong said. "It needs to secure competitiveness to expand its global network while sharply increasing its asset portfolio overseas in the future."
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