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Finance

Korean retail investors pay 10 percent premium for SK Hynix ADR

Korean retail investors sharply increased purchases of U.S. stocks during a domestic market correction, with July net buying at about $4.5 billion, CNBC reported. SK Hynix ADRs drew about $840 million, ranking second in Koreans’ U.S. securities net buying, even though the shares are available at home. Arcadian Asset Management’s Owen Lamont said the ADR traded about 10 percent above the Korean shares and called the buying abnormal.

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

ISA revamp plan under review after reconsideration, compared with advanced financial countries

South Korea\'s government is reviewing whether to scrap or ease limits in its ISA revamp plan, including restrictions on rolling over unused contribution limits and maturity caps for a productive finance ISA. The move follows investor backlash and President Lee Jae-myung\'s order for a full reconsideration. The article compares practices in Japan, Britain and Canada, where tax-advantaged accounts allow long-term use, flexible withdrawals and rollover of unused limits.