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Tuesday, March 24, 2009

Korea Exchange to jointly launch Cambodian bourse

SEOUL, March 24 (Reuters) - The Korea Exchange (KRX) said on Tuesday that it had signed an agreement with the Cambodian government to jointly launch a Cambodian stock exchange by the end of 2009.

The Cambodian government and KRX will control 55 percent and 45 percent of the exchange, respectively, and will jointly operate the bourse, KRX said.

The announcement marks the latest effort by the South Korean exchange to expand its presence abroad.

In November 2008, KRX signed a memorandum of understanding with Laos government on setting up the country's stock exchange, with the South Korean bourse holding 49 percent of the venture.

(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)

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