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Finance

Household loan cap raised to 3 percent; scraping to be phased down

South Korea’s financial authorities loosened parts of their household loan management stance by raising this year’s lending growth target to 3 percent from 1.5 percent and planning 47.8 trillion won-plus in housing supply finance support. The move is expected to expand banks’ annual capacity for household loans to around 60 trillion won. Authorities also agreed not to block scraping all at once, opting to phase it down while preparing alternatives such as public MyData.

Finance

Meritz Securities first-half operating profit rises 11.8 percent to 501.3 billion won

Meritz Securities posted higher operating and net profit in the first half of this year from a year earlier, supported by growth in its retail and asset management businesses. The company said first-half consolidated operating profit rose 11.8 percent to 501.3 billion won, while net profit increased 15.9 percent to 514.0 billion won. Second-quarter operating profit fell 18.2 percent, while net profit rose 1.4 percent.

Finance

Single-stock leverage regulation starts; how far will additional measures go?

South Korea is tightening regulation of single-stock leveraged products, including setting per-investor limits and raising transaction costs to curb excessive trading. Asset managers and securities firms agreed to spread rebalancing trades beyond the close and reduce liquidity provider volume while managing ETF price-to-NAV gaps. The government raised the minimum deposit for single-stock leveraged ETFs and ETNs to 30 million won, effective July 31, and outlined further steps including investor education and legal grounds to adjust leverage in emergencies.