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Finance

Asset managers\' Q2 net profit jumps to 2.7 trillion won on stock rally, ETF growth

South Korean asset managers\' second-quarter net profit more than tripled from a year earlier, helped by a domestic stock market rise and growth in the exchange-traded fund market, the Financial Supervisory Service said. Net profit rose to 2.69 trillion won, while assets under management reached 2,777.5 trillion won at end-June. Still, the share of loss-making firms increased, with 42.9 percent of 513 managers posting losses.

Finance

Brokerages\' Q2 net profit tops 5.2 trillion won, up 82 percent on stock market boom

South Korean brokerages posted more than 5 trillion won in net profit in the second quarter, helped by a strong stock market and higher trading value. Net profit at 61 brokerages rose 20.0 percent from the previous quarter to 5.19 trillion won, up 82.1 percent from a year earlier. Commission income increased 32.5 percent, led by brokerage fees. Wealth management, investment banking and proprietary trading earnings also improved.

Finance

Loan curbs keep volume caps but widen exemptions for housing supply funds

South Korea’s financial authorities are splitting real estate finance policy into household loan volume caps and support for housing supply. They plan to keep overall household loan management by financial firms, while exempting funds needed for housing supply, youth housing stability and end-user demand. August household loans rose 2.6 trillion won, down from July, but mortgage lending increased. Authorities will also ease some PF capital ratio rules for housing projects and expand supply-related funds.