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Japan's SBI teams up with South Korean peer Kiwoom

The partners eye fintech investment, online banking

TOKYO -- Japan's SBI Holdings and South Korea's Kiwoom Securities will collaborate on financial technology investment and other operations in Asia.

The two leading online brokerages in their respective countries will announce the partnership on Wednesday. Kiwoom began in 2000 as South Korea's first online brokerage, growing into a business overseeing about 2.7 million accounts and 3.7 trillion yen ($32.2 billion) in assets under management. It is among the country's top financial institutions in retail equity trading.

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