SEOUL, Jan 22 (Reuters) - South Korea's stock exchange operator said on Tuesday it had agreed with the Cambodian government to set up and run a joint stock exchange in the Southeast Asian country in 2009.
The Korea Exchange , Asia's fourth-largest bourse operator, has in recent years supported stock market development in Southeast Asia as part of efforts to raise its profile and draw foreign firms to Seoul for listings.>
KRX said in a statement the exchange and the Cambodian Finance Ministry were working on a detailed investment plan to set up the Cambodia Stock Exchange and a support system next year.
The Cambodian government will own a minimum 51 percent in the new bourse while KRX will hold as much as 49 percent. KRX will also help the country set up a regulatory body to oversee stock trading, it said.
South Korea said last year it would spend $1.8 million in training and help set up the modern stock market in Cambodia, which is recovering from a 30-year civil war ended in 1998.
The Korea Exchange , Asia's fourth-largest bourse operator, has in recent years supported stock market development in Southeast Asia as part of efforts to raise its profile and draw foreign firms to Seoul for listings.>
KRX said in a statement the exchange and the Cambodian Finance Ministry were working on a detailed investment plan to set up the Cambodia Stock Exchange and a support system next year.
The Cambodian government will own a minimum 51 percent in the new bourse while KRX will hold as much as 49 percent. KRX will also help the country set up a regulatory body to oversee stock trading, it said.
South Korea said last year it would spend $1.8 million in training and help set up the modern stock market in Cambodia, which is recovering from a 30-year civil war ended in 1998.
