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Finance

Global financial firms step up push into South Korea, targeting retail ETFs and institutional alternatives

Global financial firms are increasingly turning to South Korea as they expand local footholds to target demand from retail investors for overseas investment products and from insurers and pension funds for alternative assets. Alternative investment manager Hayfin said it will broaden cooperation with Korean institutional investors via its Seoul office. U.S. ETF managers Tradr ETFs and Tuttle Capital Management cited sizable Korean ownership in their assets.

Finance

KOSPI rises for first time in four sessions on semiconductor gains, nears 7,000

South Korea\'s benchmark KOSPI climbed nearly 2 percent on Wednesday, led by gains in heavyweight semiconductor stocks such as Samsung Electronics and SK Hynix. The index recovered from an early drop to the 6,700 level and finished around 6,900, closing up 133.31 points at 6,971.35. Institutions were net buyers, while individuals and foreigners sold. The KOSDAQ rose 4.48 percent. The won was little changed against the dollar.

Finance

Big investment banks\' venture capital supply rises to 11.6 trillion won in Q2; small, mid-cap research mandate sought

Venture capital supply by seven large securities firms obligated to provide risk capital rose to 11.6 trillion won in the second quarter, up 2 trillion won, or 20.4 percent, from the first quarter, South Korea\'s Financial Services Commission said. Authorities plan to review differentiated credit for higher-risk investments and to overhaul brokerage research rules. Measures include curbing buy-rating bias, boosting small and mid-cap coverage, and extending mandatory IPO research.