There are some fund managing companies in South Korea. Also, these companies are quite popular. However, I still believe that hedge funds are bad for countries' economic growth, since they concentrate money to short-term investment rather than long-term investment, which increases volatility in the economy. Currently, I believe there is a reason why Europe and America have increased regulation toward hedge funds and that it's not a wise decision for S.Korean government to support growth of hedge funds when the global trend is to regulate and decrease the number of them.
http://www.economist.com/comment/1108445#comment-1108445
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