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Finance

Korea Investment Securities\' JCR credit rating upgraded to \'A\'

Korea Investment Securities said Japan Credit Rating Agency (JCR) upgraded its long-term foreign-currency issuer credit rating to \'A\' from \'A-\'. JCR also raised the bond credit rating to \'A\' from \'A-\' and changed the outlook to stable from positive. JCR cited solid profitability, a diversified business portfolio, capital adequacy, and liquidity. Korea Investment Securities has expanded overseas funding, including issuing a total of 66 billion yen in bonds in Japan.

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

Mutual finance faces PF curbs, calls to ease non-capital household loan rules

Mutual finance groups in South Korea are facing tighter rules on real estate project financing and broader asset-soundness requirements, forcing them to curb property-related lending and bolster capital. The financial authorities want the sector to strengthen its role in local and low-income finance, but the industry says stable earnings are needed to sustain such lending. It is calling for adjustments to household-loan regulations, particularly outside the capital region, to reflect differing regional conditions.