Korean houses profit dip, structured products take a hit

At Mirae Asset Securities, net profit declined 29.5% to KRW460.7 billion (US$344m) in H1 22 YoY as net revenues slowed down across brokerage fee (-37.5%), wealth management (WM) fee (-6.3%), trading income (-26.1%) and interest profit/loss (-20.5%). The only exception was investment banking fees, which rose 10.2% to KRW187.3 billion YoY, representing 19% of the total net operating revenues at Mirae Asset Securities. ELS and DLS which are housed under the wealth management business generated KR