Futures firms' net jumps on higher commission income

SEOUL, March 10 (Yonhap) -- The total earnings of futures firms in South Korea
jumped 51.6 percent in the first three quarters of fiscal 2008 as commission
income rose amid increased financial market volatility, the financial watchdog
said Tuesday.

The combined net profit of 14 local futures firms and foreign players reached 96
billion won (US$62 million) in the April-December period, compared with 63.3
billion won a year earlier, the Financial Supervisory Service said. They close
their books on March 31.
Their total commission income gained 22 percent on-year to 31.1 billion won in
the cited period. Combined assets reached 2.8 trillion won as of the end of
December, up 42 percent from the previous year.
Currently, 14 brokerage companies operate in South Korea, including three foreign
firms.
sooyeon@yna.co.kr
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