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Mirae Asset Securities granted regulatory approval for Daewoo Securities package

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Mirae Asset Securities granted regulatory approval for Daewoo Securities package

South Korea's Financial Services Commission approved theeligibility of Mirae AssetSecurities Co. Ltd.'s consortium to become the largest shareholderof Daewoo Securities Co. Ltd.and KDB Asset Management Co.Ltd., an official at the regulator told S&P Global MarketIntelligence, confirming a March 30 Yonhap News Agency report.

Mirae signed an agreement with Korea Development Bank, whichis selling its 43% stake in Daewoo Securities and the whole of KDB AssetManagement, for a final price of 2.385 trillion won for the package.

As of March 29, US$1was equivalent to 1,166.30 South Korean won.