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KB Securities expands Vietnam unit's operations

South Korea-based KB Securities Co. Ltd. plans to invest about 70 billion won in its KB Securities Vietnam JSC unit as part of its business expansion strategy, the Maeil Business Newspaper reported Jan. 9.

KB Securities plans to build up the capital base of KB Securities Vietnam to make it one of the top 10 brokerages in Vietnam. KB Securities Vietnam opened its fourth branch Jan. 8.

KB Securities Vietnam is based on the operations of Maritime Securities Inc., which KB Securities acquired in 2017.

As of Jan. 8, US$1 was equivalent to 23,210 Vietnamese dong.