Net assets of S.Korea's ETF rise to $63.1 billion despite stock woes

Despite South Korea's weak stock market this year, the exchange-traded fund (ETF) sector, which marked its 20th anniversary, maintained a clear growth trajectory by surpassing 80 trillion won ($63.1 billion) in net assets.

Korea Exchange on Monday said net assets on the ETF market on Dec. 1 hit a record-high 82.7 trillion won.

The net asset amount on Friday was 79 trillion won, up 6.9% from 74 trillion won at the end of last year, while the benchmark KOSPI's market cap fell 17% and the global ETF market saw a 7.7% decrease in net assets over the same period.

The number of listed stocks on the ETF market also reached a record-high 666, 133 more than 533 at the end of last year.

The average daily trading value on the ETF market was 2.8 trillion won, down 4.7% from 2.9 trillion won last year, but its share of trading value on the KOSPI market was 30.9%, up from 19.1%.

In daily average trading volume on the world ETF market, Korea was third behind the US with $156.9 billion and China with $10.5 billion.

Write to Tae-Ung Bae at btu104@hankyung.com