The Korea Herald

Asset-backed securities issued in H1 down 44%

Jul 29, 2016

[THE INVESTOR] The amount of asset-backed securities issued in the first half of the year plunged 43.9 percent from a year ago, the Financial Supervisory Service said on July 29. According to the FSS, the figure for the first six months of 2016 came to 27 trillion won (US$24.02 billion), down 43.9 percent from 48.2 trillion won recording during the same period last year. The FSS said that the fall was mainly due to the Korea Housing Finance Corporation issuing less mortgage-backed securities com
Daelim Industrial price raised on earnings surprise

Jul 29, 2016

[THE INVESTOR] Analysts raised their target price for Daelim Industrial, South Korea’s major builder, on July 29 as the firm posted better-than-expected quarterly revenue and earnings. For the quarter ending in June, Daelim Industrial logged 2.56 trillion won (US$2.27 billion) in sales, up 9 percent year on year and operating income of 136.2 billion won, up 115.9 percent from a year earlier. An apartment complex built by Daelim Industrial in Ulsan, South Korea.“The earnings surprise was led by i
Capital gains tax on stock sales to be widened from April 2018

Jul 28, 2016

[THE INVESTOR] The capital gains tax on profits reaped from sale of stocks will be levied on a wider range of shareholders as the government pushes to subject all stock sales to taxation. According to the tax revision announced on July 28, capital gains tax will be levied on individuals who hold 1.5 billion won (US$1.33 million) or more of an individual company’s shares from April 2018. Both Kospi- and Kosdaq-listed stocks will be subjected to the same limit. At present, only those who hold more
Gov’t to launch market for startup stakes

Jul 28, 2016

[THE INVESTOR] The KRX Startup Market will be established this year to facilitate trading stakes in startups that raise money through crowdfunding, Financial Supervisory Commission Chairman Yim Jong-yong said on July 28. “A dedicated market for trading stakes in companies (which used crowdfunding) will be established to enable (investors) to reclaim their money early,” Yim said at an event marking six months since the introduction of crowdfunding. Since crowdfunding was introduced, 4,445 individ