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Mirae Asset Daewoo to set up Indian subsidiary

Seoul-based Mirae Asset Daewoo Co. Ltd. plans to establish a subsidiary in India.

The South Korean broker-dealer said it will set up the company in 2017 and seek needed licenses to start operations during the first half of 2018. It will cooperate with an affiliate of Mirae Asset Global Investments Co. Ltd. that has been running an Indian business since 2007.