Fidelity Investments has filed with South Korean regulators to set up an affiliate in the country, reported the Korea Herald.

Fidelity filed to set up an affiliate worth approximately $9.27 million. If Korea's Financial Supervisory Commission approves the request and issues a permit, Fidelity could start operating in the country in 2005, according to the Korea Herald.

A Fidelity spokesperson did not immediately return a call seeking comment. 

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