Finance

NH Investment & Securities posts Q1 operating profit of 636.7 billion won, up 120.3 percent

NH Investment & Securities said on Wednesday it posted a first-quarter operating profit of 636.7 billion won and net profit of 475.7 billion won, its best quarterly results on record. Operating profit rose 120.3 percent from a year earlier and net profit climbed 128.5 percent. Brokerage fee income surged, helped by a jump in domestic stock trading value. Investment banking and asset management results also improved, and wealth management interest income increased.

Finance

Youth Future Savings to launch in June, up to 12 percent support for 500,000 won monthly deposits

South Korea’s Financial Services Commission plans to launch Youth Future Savings to support asset building for young people. Subscribers can deposit up to 500,000 won a month in a 3-year product, with government matching contributions and interest applied to both deposits and contributions. Interest income tax will be exempt. Eligibility is generally ages 19 to 34 with income and household thresholds, and government contributions vary by income level.