LaSalle Investment Management, a US-based real estate investment management firm, has received a license from South Korea’s Financial Services Commission (FSC) to conduct asset management business in South Korea.
According to Asia Asset Management, the license will enable LaSalle to expand its reach to institutional investors in Korea and manage inbound and outbound capital flows by taking advantage of the firm’s local fund vehicles.
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LaSalle regional director, JB Park, said: "We are delighted to have obtained the license which will allow us to actively market our products to institutional investors in the Korea market."
"We hold a positive view on the potential of the asset management industry and are tremendously excited about the opportunities this will present for our business," Park said.
Operating in South Korea for 11 years, LaSalle expands its local team to include a security professional and compliance officer to support the new asset management operation.
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