Morningstar Launches Its Services in South Korea

Published July 16, 2001, 1:00 a.m. EDT

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Site Will Offer Korean Offshore Fund Reports

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Morningstar has launched a free Web-based mutual fund information service for the South Korean marketplace, the company announced today.

The site was developed and will be supported by Morningstar Korea, a joint venture between Morningstar, Softbank Finance Korea and Shinheung Securities Co. that was established in September 2000.

'The Korean fund industry is re-emerging after a period characterized by the IMF crisis and corporate and financial restructuring,' said Harry Choi, CEO of Morningstar Korea in a statement. 'Both individual and institutional investors in South Korea are realizing that reliable and objective information will help them make better investment decisions.'

Using the new site, Korean investors have access to reports on over 110 offshore mutual funds that are authorized for the Korean market. The content of the site includes portfolio analyses, Morningstar ratings, and several analytical tools to compare funds and match up funds with specific investment criteria, according to the company.

The site also offers real-time market news, fund commentary, feature stories, and proprietary data put together by a team of Korean fund analysts, according to the company.

'Mutual funds are becoming the investment vehicle of choice in Korea,' said Jin Tian, Asia regional business manager for Morningstar. 'We continue to aggressively expand our services to meet the needs of the region and expect to build a significant presence in Asia.'