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Mirae Asset Daewoo denies report on SK Securities acquisition

Mirae Asset Daewoo Co. Ltd. denied reports it was looking to acquire SK Securities Co. Ltd., The Korea Herald reported May 31.

The denial came after a media report said Mirae Asset Daewoo could pursue several acquisitions to become a mega investment bank. The report flagged SK Securities as the leading takeover candidate amid rumors that Mirae Asset Daewoo Chairman Park Hyeon-joo recently visited SK Group.

Despite the Mirae Asset Daewoo's denial, industry sources said SK Group could still sell SK Securities as the new South Korean government has made it more likely for Chey Tae-won, chairman of the group, to focus on telecommunication, energy and semiconductors.

In addition, reports have suggested that foreign private equity fund companies are expressing interest in SK Securities' acquisition.