Fee Reduction Competition in Cyber Stock Exchange

The competition among the cyber securities companies over commissions and transaction fees has spread to large-scale securities corporations.
Daewoo Securities Co. and LG Securities Co. announced on April 21 that they will reduce the fees on transactions of stocks, futures options and KOSDAQ stocks offered through the Internet, on-line and wireless ordering services by up to 50 percent.
The general stock exchange fee, which was 0.5 percent for transactions below 200 million won, and 0.45 percent from 200 million to 500 million won not including a 100,000-won additional fee, now becomes 0.25 percent regardless of the amount traded.
The brokerage fee for KOSDAQ transactions was reduced to 0.2 percent from 0.4 percent, and the fees for futures and options were reduced to 0.025 percent and 0.75 percent, respectively.
Samsung Securities Co. recently chopped the fee for cyber transactions by 50 percent.
Jooan Kang : jooan@joongang.co.kr