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South Korea's Daishin Securities to set up US subsidiary

South Korea's Daishin Securities Co. Ltd. will set up a subsidiary in the U.S. by acquiring its real estate property management affiliate.

The brokerage said June 11 that it will acquire Daishin America LLC for US$43 million. The U.S. subsidiary, which will be capitalized by the cash investment in June, will focus on international alternative investments such as real estate, the brokerage said.