Millennium Managers eyes Korea onshore business

New York-based hedge fund manager Millennium Managers is likely to be the first foreign hedge fund to set up a Korean entity. Many foreign managers have been in contact with Korean authorities, but the $13.5 billion Millennium is the most serious, according to a report in the local Chosun Daily. The office of Cho Kunho, Millennium's Singapore-based Asia chairman, declined to comment. Cho is travelling and the office says the Korea licence report "isn't official" and an announcement "c…