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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

Five major brokerages post 58.5 trillion won Q2 operating profit on surging trading

Five major South Korean brokerages posted combined second-quarter operating profit of 58.5 trillion won on a surge in stock market trading value, with all five setting new quarterly records. Daily average domestic stock trading value rose 39.8 percent from the previous quarter to 118.1 trillion won including ETFs, lifting brokerage commissions. Mirae Asset Securities led profits, helped by valuation gains on investments including SpaceX. Korea Investment, Kiwoom, NH Investment and Samsung Securities also reported sharp rises.

Finance

Financial holding brokerages post about 1.41 trillion won Q2 net profit on brokerage boom

Brokerages under South Korean financial holding groups posted a combined net profit of about 1.41 trillion won in the second quarter, helped by increased stock market turnover, the investment industry said on Thursday. NH Investment & Securities and KB Securities set quarterly record results, while Shinhan Investment and Hana Securities extended growth on higher brokerage income. Woori Investment & Securities posted lower quarterly profit due to higher bad-debt costs.