Hanwha Investment & Securities officially launches Singapore subsidiary 'Pinetree Securities'
Plans to Discover Promising Alternative Investment Products and Unlisted Companies in Southeast Asia
[Asia Economy Reporter Kum Boryeong] Hanwha Investment & Securities' Singapore subsidiary 'Pinetree Securities' is opening its doors.
Hanwha Investment & Securities announced on the 1st that it will officially launch its Singapore subsidiary, Pinetree Securities.
To make a full-scale entry into the Southeast Asian market, Hanwha Investment & Securities acquired a local Vietnamese corporation in April last year and established a new subsidiary in Singapore in November.
Despite the adverse conditions caused by the COVID-19 pandemic, the Singapore subsidiary obtained a preliminary license for financial investment business from the Monetary Authority of Singapore in June and received the final license in September. It is the third Korean securities firm to achieve this in Singapore.
The Singapore subsidiary plans to discover promising alternative investment products and unlisted companies in Southeast Asia and promote global business expansion. It will accelerate business digitalization by cooperating with local investments such as CapBridge and Tech in Asia.
'Pinetree' symbolizes the commitment to consistently provide investment opportunities to customers like an evergreen pine tree. It also embodies the ambition to actively pioneer new markets like the pine tree that takes root first when a forest is formed.
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Kwon Heebaek, CEO of Hanwha Investment & Securities, said, "We will strive to secure competitiveness in Singapore, the financial and digital hub of Southeast Asia, and ultimately establish Hanwha Investment & Securities as a hub for Southeast Asian expansion."
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