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Asset managers' net up 42 pct in 2019

All News 06:00 March 11, 2020

SEOUL, March 11 (Yonhap) -- Asset management companies in South Korea saw their combined profit jump 42 percent in 2019 from a year earlier due to increased investment gains and commissions, data showed Wednesday.

The combined net profit of 292 asset management firms came to 845.4 billion won (US$707.8 million) in 2019, up from 596.2 billion won in 2018, according to the data compiled by the Financial Supervisory Service (FSS).

Their combined assets came to 1,136.5 trillion won in 2019, up 11.6 percent from a year earlier.

The FSS said 101 out of the 292 asset management firms reported combined net losses of 70.7 billion won.

Asset managers' net up 42 pct in 2019 - 1


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