Under the Financial Investment Services and Capital Market Act, the Financial Services Commission of Korea has granted final approval for the conversion of Nomura's Korean branch into a licensed subsidiary.
The local subsidiary, with registered legal name Nomura Financial Investment (Korea) Co., Ltd., is targeted to commence 28 May 2010.
The establishment of the Korean subsidiary, according to a Nomura statement, will allow the global investment bank to expand its product range and enhance its services for its clients.
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