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Brokerage industry to invest 1 trillion won in venture secondary over 3 years to ease IPO bias

South Korea\'s brokerage industry will invest about 1 trillion won in secondary deals over the next three years to improve a venture investment exit structure heavily skewed toward IPOs. The Korea Financial Investment Association said securities firms plan to supply funds through individual investments and a joint fund. Seven major investment banks will invest about 618.5 billion won individually, with that total seen rising to 700.0 billion won if more note-issuing firms join.

Finance

Five major brokerages post 58.5 trillion won Q2 operating profit on surging trading

Five major South Korean brokerages posted combined second-quarter operating profit of 58.5 trillion won on a surge in stock market trading value, with all five setting new quarterly records. Daily average domestic stock trading value rose 39.8 percent from the previous quarter to 118.1 trillion won including ETFs, lifting brokerage commissions. Mirae Asset Securities led profits, helped by valuation gains on investments including SpaceX. Korea Investment, Kiwoom, NH Investment and Samsung Securities also reported sharp rises.

Finance

Brokerage stocks give back gains as trading cools; second-half catalysts eyed

South Korean brokerage stocks, once key beneficiaries of a first-half market rally, have given back much of their gains as trading value and client cash indicators fell in July. Year-to-date gains for major brokers have sharply narrowed, with Kiwoom Securities turning negative. While second-quarter operating profit improved at several firms, the outlook for the second half hinges on non-brokerage businesses such as wealth management and funding operations, amid softer trading momentum and persistent sector rotation.