Laos, To Set Up “Korean Style” Stock Exchange

Chairman & CEO of Korea Exchange (KRX), Lee Jung-hwan, received a courtesy call from Saisengli Tengbliachu, Laos’Minister to the Prime Minister’s office and the Chairman of Renovation of State-Owned Enterprises Committee on May 19, and they discussed the plans for the establishment of stock exchange in Laos.

When Somsavat Lengsavat, Laos’ Deputy of Prime Minister, and his party visited the Korea on last Sept., the KRX signed a memorandum of understanding to help Laos set up Laos’ main bourse as a joint venture with the Laos’central bank up to 3 years and to encourage Laos’state-run enterprises to go public on the Korean stock market.

Minister Saisengli said in an interview that the Laos government will foster its securities markets for economic development and ask KRX to help Laos set up securities markets. In turn, Lee Jung-hwan, Chairman & CEO of KRX, emphasized the experiences of KRX gained from supporting emerging markets and asked the representative enterprises in Laos to consider listing on the Korean stock market.

The support for the establishment of stock market in Cambodia and Laos has proceeded along with the project of modernization Mongolian Stock Exchange. Such overseas business would be a stepping-stone that will enable KRX to expand the market linkage with regional stock exchanges in East Asia.