South Korea’s NH Investment & Securities Co. has received a brokerage license from the Vietnamese government.
The company announced on April 19 that Tran Van Dung, chairman of the State Securities Commission of Vietnam, personally visited its head office in Yeouido, Seoul, to award the license.
NH Investment & Securities advanced into the Vietnamese market after establishing a joint venture with Vietnam’s CBV Securities in the past. In January, the investment bank increased its stake in CBV Securities to establish an independent entity, dubbed NH Securities Vietnam (NHSV). The latest permit allows the company to run business in Vietnam under a new wholly-owned identity bearing the NH name.
An official from the State Securities Commission of Vietnam said, “We hope that NH Investment & Securities takes a leading role in developing the Vietnamese capital market. We also hope more South Korean capital flows into Vietnam.”