Key facts
- South Korean asset managers' net profit rose over 80% in Q2.
- Combined net income reached 2.69 trillion won (US$2.01 billion) in Q2.
- The profit increase was driven by a 38% rise in commission income.
- Total assets under management grew to 2,777.5 trillion won by end-June.
- Return on equity stood at 51.9% at the end of June.
Asset management firms in South Korea experienced a significant surge in their combined net profit during the second quarter, with an increase of over 80% compared to the previous quarter. This growth, amounting to 2.69 trillion won (US$2.01 billion), was primarily fueled by a substantial rise in commission income, which climbed 38% to 2.61 trillion won. The bullish stock market environment contributed to this performance, boosting overall operating income by 79% to 2.42 trillion won. As of the end of June, total assets under management had grown to 2,777.5 trillion won, up from 2,355.7 trillion won three months prior. The sector's return on equity also saw a notable improvement, increasing by 20.8 percentage points to 51.9% by the close of the second quarter. The Financial Supervisory Service reported that there were 513 asset management firms operating in South Korea as of the end of June.