Korea'smajor securities firms released their first-quarter results. Most of themshowed improved results thanks to an increase in brokerage income, resulting fromthe recent stock market rally and strong performance in investment banking-relatedbusinesses.
KoreaInvestment & Securities came on top in terms of net profit. On May 15,Korea Investment & Securities announced that it posted a net profit of130.1 billion won in the first quarter of this year, up 104.4 percent year onyear.
Itssales also rose 13.7 percent to 1.90 trillion won, with its operating profitestimated at 169.1 billion won, up 142.6 percent year on year.
Ofthe nation's major securities firms, only three companies, namely KoreaInvestment & Securities, Mirae Asset Daewoo (110.2 billion won) and KBSecurities (108.8 billion won), achieved higher than 100 billion wonconsolidated net profit.
MiraeAsset Daewoo posted an operating profit of 143.5 billion won in theJanuary-March period of this year, up 196.8 percent year on year, with its netprofit rising by 174.2 percent to 110.2 billion won.
The Public Officials Benefit Association (POBA) will select two global private credit managers to invest around $200 million in mezzanine debt via separately managed accounts (SMAs). POBA will allocate $100 million to each of two SMAs through two domestic investment&hellip
The Government Employees Pension Service (GEPS) will allocate $20 million to US dollar-denominated structured notes based on South Korean credit default swaps (CDS) and three-month US dollar LIBOR. It received proposals for the investment mandate by the afternoon of June 26.&hellip
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip