NEW YORK, NY--(Marketwire - Sep 27, 2011) - Brock Capital Group LLC (Brock) today announced that it signed a Memorandum of Understanding with the Province of Gyeongsangbuk-Do (Gyeongbuk) to promote cross-border investment and trade between the Republic of Korea and other nations including the United States. Sponsored by the Korea Trade-Investment Promotion Agency (KOTRA), a Korean government agency under the Ministry of Knowledge and Economy, this MOU sets forth the basic understanding of the strategic partnership between Gyeongbuk and Brock. Gyeongbuk is the largest province in the Republic of Korea and home to world-class business entities such as the Pohang Iron and Steel Company (POSCO). Brock is a New York-based boutique investment bank and business advisory firm (www.brockcapital.com).
Under the terms of this MOU, Gyeongbuk is to screen and source outstanding Korean and foreign companies in Gyeongbuk and recommend them to Brock. In return, Brock is to facilitate investment in these companies and to advise Gyeongbuk concerning global investment trends as they relate to Gyeongbuk and Gyeongbuk's initiatives for attracting foreign investment. The MOU also calls on Brock to participate in Gyeongbuk-sponsored investment funds, by means such as raising capital for the funds and administering and supervising the funds' operations. "This MOU is the first of its kind between Gyeongbuk and a foreign financial firm. This comes at an opportune moment, as the Republic of Korea and the United States move closer to ratifying a bilateral Free Trade Agreement," said James Lee, the Brock partner closely involved in the origination and implementation of this MOU.
Contact Information:
Brock Capital Group
212-209-3000