SGAM teams up with Industrial Bank of Korea

Apr 16, 2004

SG Asset Management and IBK will establish a 50/50 funds joint venture, and may acquire a local ITMC as well.

SG Asset Management and Industrial Bank of Korea have signed an agreement to establish a 50/50 joint venture to manufacture investment products that IBK will distribute. SGAM is looking to acquire a local fund manager as well and consolidate it with the new JV, to give it heft.

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