South Korean Asset Management Expansion Into Singapore
The financial authorities of Singapore have granted a preliminary licence to Hana Financial Group, a major South Korean bank, to create an asset management firm in the sovereign island city-state. Hana Financial's entry into the Singapore market is part of the company's plan to increase international revenues from 21.7 percent to total profits of over 40 percent by 2025. In addition to diversifying its earnings portfolio under the protracted low-interest environment, the assets management firm's debut in Singapore would expand...
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