Foreign Securities Firms' Q2 Net Profit Up 214%, JPMorgan Earns Approximately $148 Million

The South Korean stock market saw a significant rise in the second quarter, with the KOSPI surpassing 9,000 points for the first time. Six foreign securities firms, including JPMorgan, Goldman Sachs, Merrill Lynch, UBS, Morgan Stanley, and Citigroup, collectively achieved a net profit of 630.5 billion won (approximately $455 million), marking a year-on-year increase of 213.8% and a quarter-on-quarter increase of 133.3%. JPMorgan led with a net profit of 204.5 billion won (approximately $148 million), despite having only 87 employees in South Korea as of the end of June. Goldman Sachs reported a net profit of 137.1 billion won (approximately $9.89 million) for the second quarter. During the same period, foreign investors' trading volume in the South Korean securities market reached 1,851.9 trillion won (approximately $1.34 trillion), a year-on-year increase of 312%.

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