Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
BlackRock becomes Samsung Securities' third-largest shareholder
Samsung Securities headquarters in Seoul / Yonhap
By Lee Min-hyung
By Lee Min-hyung
BlackRock, the world's largest asset manager, has become Samsung Securities' third-largest shareholder as of the end of February, data showed.
According to data from the Financial Supervisory Service, the U.S. investment firm secured a 5.46 percent stake in the Samsung affiliate as of Feb. 28. No other global asset managers possess more than a 5 percent stake in a Korean securities firm.
BlackRock already secured around 440,000 shares in Samsung Securities on Feb. 27, but then acquired more than 300,000 shares the following day.
Samsung Securities' largest shareholder is Samsung Life Insurance ― holding a 29.62 percent stake in the brokerage house. The National Pension Service is the second-largest shareholder with around a 10 percent stake.