SEOUL - THE operator of South Korea's stock market said on Thursday it has reached agreement with the Laotian government to jointly set up a stock exchange in the communist state next year.

The Korea Exchange said it will hold a 49 per cent stake in the new bourse with the Laotian government owning the remainder.

The Laos exchange will be launched in June next year and trading will start four months later, the Korea Exchange said in a statement.

'The latest deal is expected to help local brokerage houses expand into South-east Asian countries, as well as encourage Laotian companies' stock listing on the Seoul bourse,' it said.

The Seoul bourse operator also helped Vietnam and Cambodia set up stock exchanges. -- AFP