ID :
193227
Wed, 07/06/2011 - 12:28
Auther :
Shortlink :
https://oananews.org//node/193227
The shortlink copeid
S. Korea aims to join world's top 10 ETF markets in 2013
SEOUL, July 6 (Yonhap) -- South Korea's bourse operator said Wednesday that it plans to join the ranks of the world's 10 largest exchange-traded fund (ETF) markets in 2013 by expanding products and improving investment policies.
The Korea Exchange (KRX) seeks to elevate its ETF exchange to such a status with a lineup of 130 products and net assets of 15 trillion won (US$14 billion) over the next three years, officials said at a press conference.
An ETF tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange.
South Korea is currently the world's 12th-largest ETF market with an asset value of 8.2 trillion won and a lineup of 95 products.
KRX officials said they plan to expand the exchange's ETF lineup by introducing new products, drawing institutions' investments and mending related policies.
"The KRX will propose that the government give tax benefits to long-term investors in a bid to boost indirect investment," said Lee Chang-ho, president and COO of the KRX.
The country's ETF market was set up in 2002 to expand means for indirect investment. The size of South Korea's fund market accounts for 25 percent of its gross domestic product, lower than the United States' 81 percent and the European Union's 49 percent.
The Korea Exchange (KRX) seeks to elevate its ETF exchange to such a status with a lineup of 130 products and net assets of 15 trillion won (US$14 billion) over the next three years, officials said at a press conference.
An ETF tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange.
South Korea is currently the world's 12th-largest ETF market with an asset value of 8.2 trillion won and a lineup of 95 products.
KRX officials said they plan to expand the exchange's ETF lineup by introducing new products, drawing institutions' investments and mending related policies.
"The KRX will propose that the government give tax benefits to long-term investors in a bid to boost indirect investment," said Lee Chang-ho, president and COO of the KRX.
The country's ETF market was set up in 2002 to expand means for indirect investment. The size of South Korea's fund market accounts for 25 percent of its gross domestic product, lower than the United States' 81 percent and the European Union's 49 percent.
