◆ Ajou Economic News
▷ Kiwoom Securities announces entry into retirement pension market... "No fees if returns are low"
- Kiwoom Securities held a press conference on May 28 at TP Tower in Yeouido, Seoul, to unveil its roadmap for entering the retirement pension market.
- The company will begin its retirement pension business on June 1. It plans to implement a policy where it will not charge management fees if returns do not meet its own benchmarks, which are currently being set slightly above deposit interest rates.
- Additionally, it will waive management and asset management fees for the first year across all retirement pension systems, including defined benefit (DB) and defined contribution (DC) plans, in line with the government's efforts to reduce fee burdens and to accelerate the acquisition of initial subscribers.
- Kiwoom Securities will also be the first retirement pension provider to offer foreign RP products to all clients, including individuals and corporations. The company plans to introduce a variety of products, starting with foreign RP, followed by bonds and ELS based on the size of contributions, leveraging the fact that foreign products are permissible under retirement pension regulations.
◆ Major Reports
▷ Market fluctuations and shifts in the KOSPI [Shinhan Investment Corp]
- The KOSPI and KOSDAQ fell by 0.5% and 2.5%, respectively, the previous day. In the U.S., the three major indices reached all-time highs despite a pause in semiconductor stocks.
- Under pressure from discount rates, the KOSDAQ, which is centered on growth stocks, saw a decline of around 6%. However, IT leaders like SK Hynix (+2.1%) and Samsung Electro-Mechanics (+13.4%) performed well, helping the KOSPI recover to the 8,100-point range in the afternoon.
- The KOSPI is showing signs of significant shifts amid volatility. Recently, as investor sentiment has been dampened by noise surrounding Samsung Electronics' strikes and profit distribution, SK Hynix has been closing the gap. Even on a day when large-cap stocks generally struggled, SK Hynix rose, nearing 93% of Samsung Electronics' market capitalization.
- Samsung Electronics, benefiting from a boom in multi-layer ceramic capacitors (MLCC) and high-value flip-chip ball grid arrays (FC-BGA), has surged 623% year-to-date, surpassing Hyundai Motor to become the fourth-largest company by market cap during trading hours.
◆ Major Announcements After Market Close (May 28)
▷ Lotte Group reports 181% increase in operating profit for Q1 amid portfolio restructuring.
▷ Samsung Securities resolves to acquire 4% stake in SDS and Card and Dunamu.
▷ Samsung Securities announces acquisition of 306.4 billion won in Dunamu shares, representing a 2% stake.
◆ Fund Trends (as of May 27, excluding ETFs)
▷ Domestic equity funds: -1.594 trillion won
▷ Foreign equity funds: +152 billion won
◆ Key Schedule for Today (May 29)
▷ South Korea: Industrial Production (April), Retail Sales (April)
▷ Japan: Tokyo Core Consumer Price Index (May), Industrial Production (April), Retail Sales (April)
▷ United States: Chicago Fed Index (May)
* This article has been translated by AI.
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