Nobody can be all things to all people, the old saying goes.
But Chicago's
Morningstar is doing its darnedest to prove the saying wrong, with today's announcement of the formation of
Morningstar Korea. The new company follows closely on the heels of the formation of
Morningstar Asia and
Morningstar Europe, both announced in the last 30 days.
The new company will basically provide the same sort of fund data, news, and tools that Morningstar provides for its US clients, but customized to Korea's products and markets. The venture will be capitalized by a $2.25 million investment by
Softbank and a $4.5 million investment by Korea-based
Shinheung Securities.
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