Samsung to be Asias top 5 by 2015

By Kim Tae-gyu

Samsung Securities, one of the leading brokerages in Korea, seeks to join the rank of Asia’s top five in the next five years. So far so good as its Hong Kong operations demonstrate, Samsung said Wednesday.

With the ambitious goal in mind, the Seoul-headquartered firm made big investments establishing an outfit in Hong Kong employing more than 60 financial specialists midway through 2009.

The number has almost doubled to over 110 over the past one and a half years with more and more corporate clients knocking on Samsung’s door, which makes the firm upbeat about attaining its target.

``In the investment banking (IB) sector, we have brokered deals whose amount totals 3.4 trillion won in Hong Kong. Beginning this year, we are set to take charge of bigger contracts there,’’ a Samsung spokesman said.

``The figure of accounts for corporate customers has also jumped 10-fold over the past year.’’

Samsung Securities expect that its Hong Kong branch will reach the break-even point this year. By 2013, it is expected to post annual turnover of between 200 billion won and 300 billion won.

On top of Hong Kong, Samsung strives to strengthen its presences in London, New York, Tokyo and Shanghai in the short run. Over the long haul, it fixes eyes on such destinations as Singapore, Taiwan, India and Indonesia.

``By 2015, we will be competing with global IBs as one of Asia’s top five players. Five years later, we hope to be included in the world’s foremost 10 list,’’ the Samsung spokesman said.

Samsung Securities Chief Executive Officer Park Chun-hyeon said of late that the brokerage will become the next-generation cash cow of Samsung Group. The former is an affiliate of the later.

``Just as the semiconductor business spearheaded Samsung Group’s and Samsung Electronics’ surge to the global scene, Samsung Securities is determined to lead the group’s future growth. We will become the second semiconductors,’’ Park said.

In the meantime, the company has played the role of matching global investors and local companies as shown by the 2011 Samsung Global Investor’s Conference held late last year in Seoul.

During the meeting with the theme the Korea Financial Market ― Reshaping Inclusive Growth, a total of 3,000 international investors and representatives of domestic firms participated.