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S. Korean Brokerages’ Overseas Net Jumps 62 pct in 2021

S. Korean Brokerages’ Overseas Net Jumps 62 pct in 2021

SEOUL, April 24 (Korea Bizwire) — South Korean brokerages posted a 62 percent on-year gain in their combined overseas net profit last year on increased stock trading amid the COVID-19 pandemic, the financial regulator said Sunday. The country’s 13 securities companies reported US$305.9 million in overall overseas net income in 2021, up from $188.5 million [...]

Brokerages’ Q3 Net Up 10.5 pct on Increased Investment Gains

Brokerages’ Q3 Net Up 10.5 pct on Increased Investment Gains

SEOUL, Nov. 28 (Korea Bizwire) — South Korean brokerage firms saw their combined net profits rise 10.5 percent in the third quarter from three months earlier, due to increased income from their proprietary trading, data showed Sunday. The combined net profit of 58 brokerages stood at 2.52 trillion won (US$2.1 billion) in the July-September period, [...]

Brokerages Downgrade Q4 Earnings Outlook for Major Listed Firms

Brokerages Downgrade Q4 Earnings Outlook for Major Listed Firms

SEOUL, Jan. 11 (Korea Bizwire) — South Korean brokerage houses have slightly revised down their fourth-quarter earnings outlook for major listed companies amid the coronavirus pandemic, a market tracker said Monday. The combined operating income forecast for 164 major listed firms came to 32.7 trillion won (US$29.9 billion) for the October-December period as of Friday, [...]

Brokerages Raise Stock Price Outlook for 2021 on Global Recovery, Ample Liquidity

Brokerages Raise Stock Price Outlook for 2021 on Global Recovery, Ample Liquidity

SEOUL, Dec. 20 (Korea Bizwire) — South Korean brokerage houses predicted the local stock market would continue its uptick move in 2021, citing signs of a global economic recovery and growing investor appetite for higher returns, data showed Sunday. Multiple securities companies set their upper-end target band for the benchmark Korea Composite Stock Price Index [...]

Brokerages See Investment Banking Overtake Commission Fees as Main Profit Driver

Brokerages See Investment Banking Overtake Commission Fees as Main Profit Driver

SEOUL, Nov. 18 (Korea Bizwire) — Big brokerages in South Korea saw their investment banking unit report solid profits in the first nine months of this year, overtaking commission fees as their main profit driver, data showed Monday. Mirae Asset Daewoo Co., the nation’s largest brokerage, reported an operating profit of 249.8 billion won (US$214.6 [...]

Financial Firms to be Under Scrutiny over Controversial Derivative Products

Financial Firms to be Under Scrutiny over Controversial Derivative Products

SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will begin inspecting financial firms later this week over sales of controversial derivative products that carry the risk of losing nearly all investment. Choi Jong-ku, chairman of the Financial Services Commission (FSC), told lawmakers that financial authorities will start an inspection into [...]