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Overseas branches of brokerage houses rack up sharp increase in 2024 earnings

Published: 19 May. 2025, 10:29 Updated: 19 May. 2025, 15:17

The Financial Supervisory Service's headquarters in Yeouido, western Seoul [YONHAP]

Overseas businesses of Korean securities companies saw their net income spike last year on the back of increased trading, data showed Monday.

The overseas operations posted a combined net income of $272 million last year, nearly tripling from $106 million the previous year, according to the data from the Financial Supervisory Service (FSS).

The income of overseas branches accounted for 7.8 percent of the brokerage houses' net profit last year.

As of year-end 2024, 15 domestic securities companies were operating in 15 countries through 70 subsidiaries and 10 branch offices, with 58 of them based in Asia and 14 in the United States.

The combined assets of the overseas businesses stood at $34.28 billion as of the end of 2024, down $3.7 billion or 9.7 percent from a year earlier, according to the FSS.

The securities firms enjoyed net profits in 10 countries, including the United States and Vietnam, while incurring net losses in three countries, including Britain and Thailand, the financial watchdog said.

Yonhap