REFILE-UPDATE 1-Samsung Sec to slash jobs, suspend brokerage ops in Hong Kong

(Refiles to fix typo in second bullet point)

* Samsung Sec unveils Hong Kong restructuring plan

* Will cut jobs by more than half, suspend brokerage ops

* Aims to focus on Korean stock sales

SEOUL, Feb 1 (Reuters) - Samsung Securities said on Wednesday it will suspend brokerage operations at its Hong Kong business and cut staff by more than half in an effort to boost the profitability of its overseas operations.

The move by Samsung Securities, which has aggressively expanded its bridgeheads in Asia, comes as investment banks worldwide shed jobs to fend off the impact of global economic turmoil.

Japan's Daiwa Securities Group, Japan's second-biggest brokerage, said on Tuesday it planned to shed an addititional 200 overseas jobs, taking total overseas job cuts to 500.

The South Korean brokerage, a unit of conglomerate Samsung Group, currently has about 130 employees working overseas, with roughly 100 of them based in Hong Kong.

Its overseas operations posted a 14.7 billion won ($13.09 million) net loss during the July-September quarter last year, according to an earnings report.

Samsung said it would focus on Korean stocks sales, but could resume brokerage operations in Hong Kong if market conditions improved.

Samsung's expansion in Asia aimed to capture market share while other brokerages stumbled after the 2008 financial crisis.

But the field of newcomers quickly became crowded, and Asia's financial markets suffered a tough second half last year, as they turned out not to be immune from the economic troubles facing the rest of the world.

Samsung Securities said its overseas operations made up only a tenth of its total profits between April and September.

($1 = 1123.3500 Korean won) (Reporting by Ju-min Park; Editing by Jonathan Hopfner and Richard Pullin)