South Korea's DGB Financial Group announced on Thursday that it opened its first overseas subsidiary Hi Asset Management Asia (HiAMA) in Singapore.
HiAMA, led by Choi Young-wook, who has operational experience in Singapore, will serve as the CEO.
After completing local staffing and operational infrastructure preparations, HiAMA plans to introduce new Asian funds starting on Mar. 15.
With these Asian funds, HiAMA aims to secure a track record and leverage DGB Financial Group's domestic and overseas networks to expand its business.
The company plans to engage in mergers and acquisitions, minority stake investments, and launch loan funds in the global market.
"We will spare no support to ensure that HiAMA can function as a major player in Singapore and serve as the group's headquarters in the global market," the Chairman of DGB Financial Group Kim Tae-Oh said.