Korea’s top asset managers look to emulate Australia’s world-class superannuation system
04 Apr 2017
Twenty of Korea’s top asset management CEOs will visit Sydney this week to explore opportunities in the Australian asset management industry.
Combined, their total assets under management are estimated at US$450 billion.
CEOs from Samsung Asset Management, Hyundai Investments, Hana Asset Management and Shinhan BNP Asset management, among others, will explore potential investment opportunities and partnerships for ventures into the Australian market April 3-6.
“Having 20 chief executives of this calibre visit from Korea is a testament to Australia’s leadership in financial services regulatory reform and a sign of our growing economic relationship,” said Australia’s Minister for Trade, Tourism and Investment, Steven Ciobo.
“At present only 3.4 per cent of the AU$2.7 trillion funds under management in Australia come from overseas sources, so there is enormous scope for the Australian financial services sector to grow its business by managing Asia’s wealth.”
The delegation is led by Korea’s Financial Investment Association (KOFIA) and its chairman Mr YK Hwang.
“Korean asset managers are excited about future ventures into the Australian market and hope to forge new investment partnerships with Australian financial institutions,” said Mr Hwang. “We continue to deepen our knowledge of the Australian superannuation system and Australia’s approach to infrastructure fund investments.”
Austrade’s Senior Trade Commissioner based in in Seoul, Amanda Hodges, said the delegation is interested in understanding Australia’s regulatory environment for asset management, benchmarking their system and signing general partnerships with Australian funds managers.”
Amanda Hughes, Amanda.Hughes@austrade.gov.au Tel: 0410 200 400