KDB Daewoo Securities renamed as Mirae Asset Daewoo

SEOUL, April 11 (Yonhap) -- Mirae Asset Financial Group said on Monday it had changed the name of KDB Daewoo Securities Co. to Mirae Asset Daewoo after it acquired the country's second-biggest brokerage by capital last month.

"As the financial authorities gave final approval to the acquisition in late March, we have announced the name change through our webpage. The new corporate identity for the brokerage will be released as early as this week," a group spokesman said.

In March, the asset-management group signed a deal with the state-run Korea Development Bank to take over a 43-percent stake in KDB Daewoo Securities along with KDB Daewoo Management Co., in a package deal for a combined 2.45 trillion won (US$2.14 billion).

kyongae.choi@yna.co.kr
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