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Opalesque Exclusive: First Korean home-grown hedge funds expected to debut in 2009 According to Woori Investment & Securities Co., a senior finance ministry official said Tuesday that the government will allow the establishment of hedge funds in 2009 to help upgrade the country's financial industry and boost its growth potential. It had initially planned to phase out regulations on private equity funds (PEFs) toward full admission of hedge funds in the domestic financial market by 2012.

Deputy Finance and Economy Minister Cho Won-dong said hedge funds will be set up in the country after local PEFs are allowed to establish subsidiaries abroad next year and invest in the overseas corporate and financial debt restructuring markets .

Woori to set up hedge fund in Singapore to prepare for Korean 2009 hedge fund opening From Koreatimes.co.kr: Woori Investment & Securities will set up a $100 million hedge fund in Singapore to advance into Southeast Asia and get ahead of the implementation of the Capital Market Consolidation Act.

Woori Investment & Securities quoted CEO Park Jong-su as saying in a press conference in Singapore, Wednesday, that it plans to set up a hedge fund, which will invest in diverse assets globally to make an annual 20 to 25 percent in investment returns. The private equity fund will be set up in Singapore around the end of this year, the first hedge fund to be set up in Singapore by a local brokerage house.

The fund......................

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