Third inter-dealer brokerage readied in Korea

A third inter-dealer brokerage will enter the Korean debt market in March.

Rob Davies

January 29, 2001

A consortium led by British broking house Prebon Yamane — which also operates in Hong Kong, Singapore, Malaysia and Japan — as well as 10 domestic firms, is setting up the company at an estimated start-up cost of around W3 billion ($2.4 billion).

Prebon Yamane will hold a 40% interest in the new concern, followed by Kookmin Bank, Korea Development Bank, Hanwha Securities (all 11%), Shinhan Securities (7%), Dongwon Securities (5%), Shinyoung Securities (4%), Kyobo Securities, Good Morning Securities, Pukook Securities and Daeyu Securities (all 1%).

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