South Korean Securities and Futures Companies

South Korean securities and futures companies increased their overseas investments in the second half of last year as they sought to diversify their investment portfolios, the financial regulator said Monday.

Foreign securities held by 22 local brokerage houses and futures firms reached 2.05 trillion won (US$ 1.8 billion) as of the end of December, up 4.2 percent from 1.97 trillion won at the end of June, the Financial Supervisory Service (FSS) said.

As of the end of December, the United States was the biggest destination for local brokerage firms, accounting for 22 percent of their total overseas investments, or 220 billion won, according to the FSS.

China and Australia followed with 85 billion won and 60 billion won, respectively, when tax haven regions such as Ireland are excluded, the regulator said. (PNA/Yonhap)

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