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Finance

Four major financial groups\' net profit tops 11 trillion won, competition shifts from banks to capital markets

South Korea’s four major financial holding groups posted combined first-half net profit of 11.34 trillion won, up 9.8 percent from a year earlier, helped by steady interest income and rising fee income from capital-market businesses such as securities, wealth management and investment banking. As non-bank earnings contributions expanded, the competitive focus among groups increasingly shifted to capital markets. In banking, Shinhan Bank led in net profit, while Woori Bank was the only one to decline.

Finance

Semiconductor and Middle East risks overly priced in, KOSPI 6,000 seen as bottom

South Korea\'s stock market has undergone an excessive price adjustment as concerns over a semiconductor cycle peak and geopolitical instability in the Middle East overlap, an analyst said. Kim Byeong-yeon (김병연) of NH Investment & Securities said current declines look overstated if chipmakers avoid returning to loss-making structures. He suggested chip firms\' forward PBR of 1.3 to 1.4 implies a KOSPI level around 6,000, and said U.S. big tech earnings this week are a key variable for market direction.

Finance

Financial Services Commission to expand national growth fund to 200 trillion won, push KOSDAQ reform

South Korea’s Financial Services Commission will expand the National Growth Fund to 200 trillion won from 150 trillion won and supply up to 10 trillion won to national strategic technologies. It will broaden support to future strategic industries including aerospace and raise annual direct equity investment support to at least 5 trillion won. The commission also plans KOSDAQ market restructuring, tighter limits on duplicate listings, a shift to T+1 stock settlement and other measures to enhance shareholder value and governance.