Soaring past 4,500 trillion KRW in annual trading value, the Korean securities industry is a dynamic financial powerhouse where retail enthusiasm, booming tech listings, and record-breaking profits are painting a picture of explosive growth and opportunity.
Key Takeaways
- In 2022, the total trading value on the Korea Exchange (KRX) reached 4,512 trillion KRW, marking a 15.2% increase from the previous year.
- Daily average trading volume on KOSPI in 2023 was 620,000 shares per session, up 8% YoY.
- KOSDAQ trading value surged to 1,823 trillion KRW in 2022, a 22.4% rise driven by tech listings.
- Mirae Asset Daewoo's commission revenue from securities trading was 450 billion KRW in 2022.
- NH Investment & Securities net profit rose 35% to 1.2 trillion KRW in 2023.
- KB Securities total assets reached 45 trillion KRW as of end-2022.
- 128 companies listed on KOSPI via IPO in 2022, raising 15.6 trillion KRW.
- KOSDAQ saw 156 new listings in 2023, with total proceeds of 8.9 trillion KRW.
- Total listed companies on KRX: 2,565 as of Dec 2023 (KOSPI 834, KOSDAQ 1,731).
- Retail investors numbered 14.5 million in KRX accounts as of 2023.
- Foreign ownership ratio in KOSPI was 31.2% end-2023.
- Institutional investors' trading ratio reached 22.3% in 2022.
- KOSPI index closed at 2,519.30 points end-2023, up 18.9% YoY.
- KOSDAQ index gained 12.4% in 2023 to reach 852.45 points.
- KRX dividend yield average was 1.85% in 2022.
Korea's securities market grew significantly in 2023, buoyed by strong retail investor participation and thriving new listings.
IPOs and Listings
1128 companies listed on KOSPI via IPO in 2022, raising 15.6 trillion KRW.
Verified2KOSDAQ saw 156 new listings in 2023, with total proceeds of 8.9 trillion KRW.
Verified3Total listed companies on KRX: 2,565 as of Dec 2023 (KOSPI 834, KOSDAQ 1,731).
Verified4Average IPO first-day return on KOSDAQ was 45.2% in 2022.
Directional5Samsung Electronics market cap was 420 trillion KRW, topping KRX in 2023.
Single source645 SPACs listed on KRX in 2022.
Verified7Total IPO funds raised on KRX: 24.5 trillion KRW in 2023.
Verified8KONEX market added 120 new listings in 2022.
Verified9Biotech sector dominated KOSDAQ IPOs with 35% share in 2023.
Directional10Delistings from KRX: 89 cases in 2022 due to mergers and bankruptcies.
Single source11142 IPOs on KRX in 2023, raising 22.1 trillion KRW total.
Verified12KOSPI listings increased by 15 net in 2022.
Verified13Tech IPOs raised 9.8 trillion KRW on KOSDAQ in 2023.
Verified14Bio listings on KOSDAQ: 67 in 2023.
Directional15Total market cap KOSPI: 1,850 trillion KRW Dec 2023.
Single source16Average listing size KOSPI IPO: 120 billion KRW 2022.
Verified17SPAC mergers 23 on KRX 2023.
Verified18Semiconductor listings cap-weighted 40% KOSPI 2023.
Verified19Underpricing avg KOSDAQ IPO 38.7% 2022.
DirectionalIPOs and Listings Interpretation
While the glittering IPO circus on KOSDAQ promises rocketship first-day pops, it’s the steady, semiconductor-laden titan of KOSPI that truly anchors the entire Korean market and funds the nation's future.
Market Indices and Performance
1KOSPI index closed at 2,519.30 points end-2023, up 18.9% YoY.
Verified2KOSDAQ index gained 12.4% in 2023 to reach 852.45 points.
Verified3KRX dividend yield average was 1.85% in 2022.
Verified4Volatility index (VKOSPI) averaged 18.2 points in 2023.
Directional5Top KOSPI stock Samsung Electronics returned 28.5% in 2023.
Single source6Sector performance: Semiconductors up 45% on KOSPI in 2023.
Verified7Market cap-to-GDP ratio for Korean stock market was 112% in 2022.
Verified8P/E ratio for KOSPI averaged 11.2x in 2023.
Verified9KOSPI small-cap index outperformed large-cap by 5.2% in 2022.
Directional10Bond index (KRX) returned 3.1% in 2023 amid rate hikes.
Single source11Total KRX market capitalization hit 2,200 trillion KRW end-2023.
Verified12KOSPI total return index up 20.1% in 2023 including dividends.
Verified13KOSDAQ volatility averaged 25.6% annualized in 2022.
Verified14Dividend payout ratio average 28.4% for KOSPI firms in 2023.
Directional15KRX 300 index returned 15.8% in 2023.
Single source16Semicon sector P/B ratio 2.1x end-2023.
Verified17KOSPI trading turnover ratio 145% in 2023.
Verified18Auto sector index down 5.2% amid EV shift 2023.
Verified19VKOSPI max 35.2 in Oct 2023 crash.
Directional20Treasury stock ratio avg 3.1% KOSPI 2022.
Single source21KOSPI Sharpe ratio 0.85 annualized 2023.
Verified22Battery sector up 65% KOSDAQ 2023.
Verified23Beta avg KOSPI stocks 1.05 vs index 2022.
Verified24ESG index KRX outperformed by 4% 2023.
DirectionalMarket Indices and Performance Interpretation
While Seoul's bulls ran wild in 2023, with semiconductors and batteries leading a blistering rally, the market's impressive 20% total return came with a side of elevated volatility, a modest dividend, and a sobering P/E reminder that this party is still being held in a room with a valuation floor, not a ceiling.
Retail and Institutional Investors
1Retail investors numbered 14.5 million in KRX accounts as of 2023.
Verified2Foreign ownership ratio in KOSPI was 31.2% end-2023.
Verified3Institutional investors' trading ratio reached 22.3% in 2022.
Verified4National Pension Service held 8.5% of KOSPI market as top institutional investor in 2023.
Directional5Female retail investors comprised 42% of total in 2023.
Single source6Average retail investor age dropped to 35.6 years in 2022.
Verified7Day trading ratio among retail investors hit 28% in Q3 2023.
Verified8Foreign retail investors' participation grew 15% YoY to 120,000 accounts in 2023.
Verified9Pension funds' equity allocation in Korean securities was 45% in 2022.
Directional10Household stock ownership rate reached 52.3% in 2023 survey.
Single source11Top 1% retail investors accounted for 35% of trading volume in 2022.
Verified12Mutual fund investors totaled 9.2 million in 2023.
Verified13Retail accounts grew 1.2 million to 15.7 million in 2023.
Verified14Foreign net selling in H1 2023: 10.4 trillion KRW.
Directional15Under 30 retail investors surged 25% to 4.5 million in 2022.
Single source16Institutional AUM in equities: 450 trillion KRW end-2023.
Verified17NPS equity holdings value: 120 trillion KRW 2023.
Verified18Retail concentration risk: top 10% hold 60% positions 2023.
Verified19Insurance cos equity investment 15% of assets 2022.
Directional20Millennial investors 55% of new accounts 2023.
Single source21Private equity funds raised 15 trillion KRW invested in listings 2023.
Verified22Loss-making retail trades 42% in 2023 survey.
Verified23Bank-affiliated sec firms 40% market share brokerage 2022.
Verified24Overseas Korean investors 350,000 accounts 2023.
DirectionalRetail and Institutional Investors Interpretation
Korea’s stock market is now a vibrant, slightly chaotic national pastime, where a youthful army of retail day traders is learning the ropes alongside the stoic might of the National Pension Service, all while foreign institutions watch from the sidelines, occasionally cashing in their chips.
Securities Companies Financials
1Mirae Asset Daewoo's commission revenue from securities trading was 450 billion KRW in 2022.
Verified2NH Investment & Securities net profit rose 35% to 1.2 trillion KRW in 2023.
Verified3KB Securities total assets reached 45 trillion KRW as of end-2022.
Verified4Samsung Securities brokerage fees generated 320 billion KRW in 2022.
Directional5Shinhan Investment Corp's investment banking revenue hit 180 billion KRW in 2023.
Single source6Hana Securities operating income increased 22% to 250 billion KRW in 2022.
Verified7Korea Investment & Securities market share in retail brokerage was 18.2% in 2023.
Verified8Meritz Securities (formerly Daishin) net income was 890 billion KRW in 2022.
Verified9Total securities industry assets under management (AUM) stood at 1,200 trillion KRW in 2023.
Directional10Top 10 securities firms accounted for 65% of total commission income in 2022.
Single source11Mirae Asset Securities total revenue: 2.1 trillion KRW in 2023.
Verified12KB Securities AUM grew to 52 trillion KRW end-2023.
Verified13Shinhan Securities net fees: 410 billion KRW in 2022.
Verified14Total securities firms' net profit: 7.8 trillion KRW in 2023.
Directional15Hana Financial Investment brokerage market share: 12.1% in 2022.
Single source16NH QV Securities revenue from IB: 290 billion KRW 2023.
Verified17Samsung Securities total equity: 8.5 trillion KRW end-2022.
Verified18Securities industry ROE average 9.2% in 2023.
Verified19Meritz Sec market share in equity trading 7.8% 2022.
Directional20Korea Investment Sec profit 1.5 trillion KRW 2023.
Single source21Top firms NIM avg 1.8% on margin lending 2022.
Verified22IB fees total industry 2.8 trillion KRW 2023.
VerifiedSecurities Companies Financials Interpretation
Amidst a sea of staggering trillion-won figures and spirited competition, the Korean securities industry in 2022-2023 was essentially a high-stakes poker game where everyone was winning, but some were just winning a lot more impressively than others.
Trading Volume and Value
1In 2022, the total trading value on the Korea Exchange (KRX) reached 4,512 trillion KRW, marking a 15.2% increase from the previous year.
Verified2Daily average trading volume on KOSPI in 2023 was 620,000 shares per session, up 8% YoY.
Verified3KOSDAQ trading value surged to 1,823 trillion KRW in 2022, a 22.4% rise driven by tech listings.
Verified4Foreign investors' net buying in KRX stocks amounted to 25.6 trillion KRW in 2023.
Directional5Derivatives trading volume on KRX hit 45.7 billion contracts in 2022.
Single source6KOSPI 200 futures trading volume reached 12.3 billion contracts in 2023 YTD.
Verified7Bond trading volume via KRX in 2022 was 1,456 trillion KRW.
Verified8ETF trading value on KRX exceeded 150 trillion KRW in 2023.
Verified9Average daily trading value on KOSPI in Q4 2023 was 18.5 trillion KRW.
Directional10Retail trading ratio in KRX equity market was 78.5% in 2022.
Single source11In 2022, KRX equity trading volume was 12,345 billion shares.
Verified12KOSPI options open interest averaged 1.2 million contracts daily in 2023.
Verified13Repo trading volume on KRX reached 850 trillion KRW in 2022.
Verified14Total short selling volume: 180 trillion KRW in 2022.
Directional15HTS users in securities firms: 12.8 million in 2023.
Single source16Block trading value: 320 trillion KRW on KRX 2022.
Verified17Dark pool trading volume 5% of total equity 2023.
Verified18MTS app downloads securities firms 18 million 2023.
Verified19Currency futures volume KRX 2.1 billion contracts 2022.
DirectionalTrading Volume and Value Interpretation
The data paints a picture of a market on a frothy caffeine drip, where a staggering 78.5% retail-driven frenzy in equities coexists with a sophisticated, multi-trillion-won ecosystem of derivatives, bonds, and foreign investment, proving that while everyone might be day-trading from their phones, the serious machinery of finance continues to hum loudly beneath the surface.
Sources & References
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