SEOUL, Sept. 10 (Yonhap) -- Real estate trust firms in South Korea saw their combined profit fall 7.7-percent on-year in the first half, data showed Tuesday, as the nation's property market showed signs of slower growth.
The combined net profit of 11 real estate trusts stood at 263.3 billion won (US$220 million) in the January-June period, down 22 billion won from a year earlier, according to the data released by the Financial Supervisory Service.
All firms were in the black, with their average net income coming to 23.9 billion won for the first half, the regulator said.
Real estate investment trusts are a type of security that invests in real estate to be traded on major exchanges and provides investors with stakes in real estate, such as office buildings, apartments and hotels.
According to the data, the trusts' combined assets rose 13 percent on-year to 5.3 trillion won as of the end of June, with total liabilities climbing 21.7 percent to 2.47 trillion won.
BOK again faces rate cut pressure on new coronavirus risk
BOK to keep policy rate steady amid signs of recovery
Wealth management service increasingly popular in S. Korea
BOK tipped to continue monetary easing, at least another rate cut in offing
BOK to be on hold this time, but possible rate cut ahead