Exchange and Depository Waiver of Fees Until Year-End

[Asia Economy Reporter Song Hwajeong] Korea Exchange and Korea Securities Depository have decided to waive fees until the end of this year in consideration of the difficult economic conditions caused by the novel coronavirus infection (COVID-19) and other factors.

On the 10th, the Exchange and the Depository each held a board meeting and decided to temporarily waive transaction fees and securities company fees.

The fee waiver period will be from the 14th until December 31 (based on trading days), and the waiver applies to transaction fees and securities company fees for all listed products on the securities market and the KOSDAQ derivatives market. However, Euro Stoxx 50 futures, KOSPI 200 futures (night session), and USD futures (night session) are excluded from the fee waiver.

There have been three previous instances of fee waivers. During the global financial crisis in 2008, fees were waived from September 22 to the end of that year for about 3.2 months, and again from November 2 to the end of 2009 for 2 months. Later, due to the European sovereign debt crisis in 2011, fees were waived from November 1 to the end of that year for 2 months.

An official from the Exchange stated, "According to this fee waiver policy, an estimated 165 billion KRW in investor cost savings is expected," adding, "We hope that member firms such as securities companies will actively participate so that these waiver benefits can reach all investors."

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