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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

KRX to launch after-hours market, trading until 8 p.m. from Sept. 14

The Korea Exchange (KRX) will operate an after-hours market from Sept. 14, allowing real-time stock trading until 8 p.m. after the regular session ends. The exchange said it revised rules for its KOSPI and KOSDAQ markets and that 38 brokerages, representing 95.2 percent market share, plan to participate. Existing after-hours single-price trading will be abolished and replaced by continuous matching from 4 p.m. to 8 p.m.

Finance

Korea Exchange sponsors 70 million won for youth financial education

Korea Exchange has stepped up support for youth financial education to strengthen the financial capabilities of vocational high school students preparing to enter society. The exchange said it delivered 70 million won in sponsorship funds to the Youth Financial Education Council at its Busan headquarters on July 20. It has run related programs since 2012. This year it plans to support tailored education for 2,000 vocational and high school students in Busan.