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South Korea's NH Capital, affiliate sign MOUs with Indonesian companies

South Korea's NongHyup Financial Group Inc. unit NH Capital Co. Ltd. and affiliate PT NH Korindo Securities Indonesia signed separate memorandums of understanding with Indonesian and South Korean companies, FNTIMES reported Nov. 12.

The first MOU was signed with Indonesia-based venture capital firm PT. Celebes Artha Ventura. The companies' second MOU is a four-way agreement with PT Bank JTrust Indonesia Tbk and JT Capital Co. Ltd., the Indonesian and South Korean units of Japan's J Trust Co. Ltd.

NH Capital plans to explore business opportunities in Indonesia jointly with its partners before setting up its own operations.

NH Korindo Securities is an 80%-owned unit of NH Investment & Securities Co. Ltd.