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Finance

Korea Investment Securities expands global investment products with Fidelity, PIMCO and Carlyle

Korea Investment Securities is partnering with global asset managers including Fidelity International, PIMCO and Carlyle to expand its global investment business, from research to bonds and alternative assets. The company said it will integrate partners’ investment capabilities into its products and services. It signed an MOU with Fidelity in London and separate MOUs with PIMCO and Carlyle in New York, including plans for joint product development and expanded research services.

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

Hana Bank to sell retail treasury bonds through DC and IRP accounts, launches 10- and 20-year tenors

Hana Bank will begin selling retail treasury bonds that customers can invest in through defined contribution (DC) and individual retirement pension (IRP) accounts. The bank said on Sept. 9 it launched a retirement pension-only retail treasury bond product. Investors can buy 10- and 20-year bonds in 100,000 won units through Hana Bank DC and IRP accounts. Interest is compounded annually and taxation on interest is deferred until withdrawals.