Korea Investment Management and Korea Investment Value Asset Management approved a split-merger agreement at separate board meetings held on the 27th, as Korea Investment Holdings disclosed. Korea Investment Management will transfer its securities fund and money market fund divisions to Korea Investment Value Asset Management through a share exchange and concentrate on passive products, including ETFs and index funds under the ACE brand. The companies plan to seek shareholder approval at extraordinary meetings on September 11, with the transaction scheduled to take effect on January 1, 2027. Korea Investment Holdings said both firms will remain 100% subsidiaries of Korea Investment & Securities, with no ownership changes. The restructuring is intended to clarify the affiliates' roles, strengthen active-management scale and capabilities, and give the ACE ETF business a sharper passive focus.