Expanding Asia financial network

Strengthening traditional finance business competitiveness

Hanwha Investment & Securities CEO Jang Byung-ho (left) and GI Capital Management CEO Lee Chang-ho pose for a photo after signing the share purchase agreement. [Hanwha Investment & Securities]
Hanwha Investment & Securities CEO Jang Byung-ho (left) and GI Capital Management CEO Lee Chang-ho pose for a photo after signing the share purchase agreement. [Hanwha Investment & Securities]

Hanwha Investment & Securities announced Monday that it has signed a share purchase agreement to acquire a stake in the securities unit of GI Capital Management, a Japanese comprehensive financial investment firm. The deal gives Hanwha Investment a local foothold in Japan, adding to existing presences in Vietnam, Singapore and Indonesia.

CEO Jang Byung-ho traveled to Tokyo to sign the agreement, following a board resolution last month to proceed with the acquisition of shares in GI Capital Management's securities unit.

Hanwha Investment has built its Southeast Asian network through Pinetree Securities in Vietnam, Pinetree Securities in Singapore, and Ciptadana Securities and Ciptadana Asset Management in Indonesia.

Through the agreement, the company plans to secure a local base in Japan's growing capital markets.

The partnership with GI Capital Management is also expected to expand Hanwha Investment's Asian financial network and drive synergies between the two firms.

"We will strengthen the competitiveness of our traditional finance business by leveraging GI Capital Management's specialized talent and local institutional investor network," Jang said. "We will also explore opportunities to expand into new digital businesses and continue to raise Hanwha Investment & Securities' global competitiveness."

Last month, Hanwha Investment's board also approved a 900 billion won ($673 million) capital raise to improve financial soundness and pursue designation as a comprehensive financial investment firm.


jiyun@heraldcorp.com