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Finance

NH Investment Securities recommends Shin Jae-wook and Bae Gwang-soo as next co-CEOs

NH Investment Securities recommended Shin Jae-wook, head of the real estate and infrastructure business division, and Bae Gwang-soo, head of the wealth management division, as candidates for its next chief executives. The nominations are part of a move from a sole CEO system to a co-CEO structure. The firm plans to seek board approval and hold an extraordinary shareholders meeting on June 30 to appoint the CEOs.

Finance

NH Investment Securities to raise 400 billion won from Nonghyup Financial to strengthen IMA business

NH Investment Securities will launch a 400 billion won paid-in capital increase allocated to its largest shareholder, NH Nonghyup Financial Group. The move aims to strengthen capital to expand its comprehensive investment account (IMA) business, corporate finance linked to it and venture-capital investments. The firm said its net capital ratio was 159.3 percent in the first quarter. Part of the funds will also be used to expand retail credit provision limits.

Finance

Mirae Asset Securities launches performance-linked IMA No. 3 worth 100 billion won

Mirae Asset Securities is launching a performance-linked integrated investment account (IMA) product worth a total of 100 billion won. The company said the product, Mirae Asset IMA No. 3, will raise 95 billion won from clients, while the remaining 5 billion won will be invested by Mirae Asset Securities as a seed investment. The product has a three-year maturity and seeks interest income mainly through corporate loans and corporate bonds.