ELS Outstanding Issuance Balance 67.1383 Trillion Won... Up 25.9% Compared to End of Same Period Last Year

[Asia Economy Reporter Minji Lee] The Korea Securities Depository announced on the 13th that the outstanding issuance balance of ELS (Equity-Linked Securities) in the first half of this year reached 67.1383 trillion KRW, a 25.9% increase compared to the end of the same period last year (52.3287 trillion KRW). This is analyzed to be due to the sluggish global stock markets, which hindered smooth early and mid-term redemptions.

As of the end of the first half of this year, the number of ELS issued was 7,935, a 9.35% decrease compared to 8,752 in the same period last year. The issuance amount was 23.6116 trillion KRW, down 33.6% from 35.5810 trillion KRW during the same period.

By issuance type, among the total issuance amount, public offerings accounted for 21.3505 trillion KRW and private placements for 2.2611 trillion KRW, representing 90.4% and 9.6%, respectively. The public offering issuance amount decreased by 31.7% compared to the same period last year (31.2596 trillion KRW). It also decreased by 36.3% compared to the previous half-year (33.5055 trillion KRW), and private placement issuance decreased by 47.7% compared to the same period last year (4.3214 trillion KRW).

Looking at issuance status by underlying assets, ELS based on the domestic index KOSPI 200 was issued at a total of 9.4246 trillion KRW, down 37% from 15.0615 trillion KRW in the first half of last year. Among overseas indices, ELS based on Euro Stoxx 50 and S&P 500 were issued at 16.0849 trillion KRW and 16.0021 trillion KRW, respectively, while those based on HSCEI, Nikkei 25, and HSI indices were issued at 3.8967 trillion KRW, 2.9695 trillion KRW, and 7.6 billion KRW, respectively.

By issuing companies, the top five firms?Samsung Securities, Meritz Securities, KB Securities, Mirae Asset Securities, and Korea Investment & Securities?accounted for 50.6% of the total issuance amount. Samsung Securities had the largest issuance scale at 2.5047 trillion KRW.

Regarding redemption amounts, the total ELS redemption amount in the first half of this year was 14.3808 trillion KRW, a 67.1% decrease compared to 43.7440 trillion KRW in the same period last year. By redemption type, early redemption amounted to 7.8708 trillion KRW, accounting for 54.7% of the total redemption amount, while maturity redemption and mid-term redemption amounted to 5.0847 trillion KRW and 1.4253 trillion KRW, representing 34.5% and 9.9%, respectively.

This content was produced with the assistance of AI translation services.