ING agrees Landmark acquisition in Korea

ING Investment Management has reached agreement with Morgan Stanley Investment ManagementÆs private-equity unit to buy 100% of Landmark Investment Management. The deal also involves taking minority stakes held by Landmark CEO Choi Hong and Kyobo Life Insurance.This now gives ING IM three business lines in Korea: selling offshore products to domestic clients, managing some of the proprietary assets of ING LifeÆs Korea entity, and manufacturing domestic products for domestic investors û…