Summary of Proposed Investment
Project Number
10023
Company Name
Cheil Jedang Investment Trust & Securities
Date SPI Disclosed
Oct 3, 2000
Country
Korea, Republic of
Industry
Financial Markets
Projected Board Date
Nov 2, 2000
Status
Completed
Sector
Broker/Dealer
Department
Regional Industry - FIG Asia & Pac
Environmental Category
C - No Impact
Previous Events
Approved : Dec 21, 2000
Signed : Jan 31, 2001
Invested : Mar 22, 2001
Project Description
Cheil Jedang Investment Trust & Securities Company (CJITS or the Company) was established as Cheil Jedang Investment Trust Company in January 1998. Cheil Jedang took over the company in 1997. The Company''s name was changed to CJITS when it incorporated a securities brokerage capability. CJITS'' principal business line is devoted to the distribution of Cheil Jedang-branded investment trust products as developed and managed by CJITS'' 90%-owned subsidiary, Cheil Jedang Investment Trust Management Company ("CJITMC"); with roughly US$10 billion worth of assets under management, CJITM ranks as Korea''s third largest private asset management company.
As with previously executed financial markets projects in Korea, IFC is acting as an institution builder, neutral broker, and catalyst. In response to the Korean government''s effort to restructure its investment trust sector and specifically to the request of the Financial Supervisory Commission (FSC), IFC has identified CJITS and engaged with the Company to assist in its recapitalization. This project therefore not only represents an opportunity for the Corporation to express its support of the restructuring efforts of the investment trust industry in Korea but of the Korean government as well. The Corporation has played and will continue to play an honest broker role between Prudential and CJITS.
As with previously executed financial markets projects in Korea, IFC is acting as an institution builder, neutral broker, and catalyst. In response to the Korean government''s effort to restructure its investment trust sector and specifically to the request of the Financial Supervisory Commission (FSC), IFC has identified CJITS and engaged with the Company to assist in its recapitalization. This project therefore not only represents an opportunity for the Corporation to express its support of the restructuring efforts of the investment trust industry in Korea but of the Korean government as well. The Corporation has played and will continue to play an honest broker role between Prudential and CJITS.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
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