Samsung Securities sets up research team on NK investment
[THE INVESTOR] Samsung Securities said on June 7 it has launched a team tasked with analyzing possible investments in North Korea amid a thaw in cross-border ties.
Established as part of the company’s research center, the group aims to “provide comprehensive and systematic analysis with longer-term perspectives, at a time when geographical circumstances regarding North Korea go beyond mere short-term market themes to a new growth momentum for local firms,” the company said.
The launch of the team, a first for local brokerage firms, will allow the affiliate of South Korea’s largest conglomerate, Samsung, to cooperate further with securities firms in China and Vietnam so as to learn their knowhow and get more information on communist economies, it added.
Hopes of inter-Korean cooperation have been raised after President Moon Jae-in and North Korean leader Kim Jong-un held two rounds of summit talks in recent weeks, with Kim committing his country to denuclearization.
Diplomacy is also in full swing for the planned June 12 summit in Singapore between US President Donald Trump and the North Korean leader.
By Song Seung-hyun and newswires (firstname.lastname@example.org)