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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

Samsung Securities commercial paper licence seen as green light, Meritz still in fog

Samsung Securities is seen as closer to winning approval to issue short-term commercial paper as regulators consider lowering sanctions linked to sales misconduct at key branches. The Financial Services Commission is expected to decide on the sanctions at its July 31 meeting, and the licence agenda could reach a Sept. 9 meeting. Meritz Securities, meanwhile, has not advanced its application, with prosecutors investigating alleged unfair trading and other issues weighing on timing.

Crypto

Japan\'s SBI backs Solana to target yen stablecoin and RWA markets

Japan\'s SBI Holdings is partnering with the Solana Foundation to build onchain financial infrastructure targeting Japan\'s real-world asset (RWA) and stablecoin markets. SBI will overhaul subsidiary SBI R3 Japan, renaming it SBI Solana Global, and work with Sumitomo Mitsui Financial Group to pursue a yen-linked stablecoin and tokenisation of assets such as corporate bonds, commercial paper and real estate. SBI says it will keep a multi-chain strategy, with Ripple handling existing payment infrastructure.