Woori Finance's brokerage unit to set up US$500 mln fund with Indian firm

SEOUL, Jan. 25 (Yonhap) -- Woori Investment & Securities Co., the brokerage unit
of South Korea's Woori Finance Holdings, plans to set up a US$500 million
investment fund with an Indian financial company, the securities firm said
Monday.

The joint fund will be set up with Aditya Birla Financial Services Ltd., an
affiliate of Aditya Birla Group, India's third-largest conglomerate, according to
Woori Investment.
The fund will invest in Indian markets.
The latest deal marks Woori Investment's first foray into the Indian financial
market, the brokerage firm said in a statement, adding it plans to expand its
activity in South Asia and the Middle East.
pbr@yna.co.kr
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