Korean brokerages near 'W2 tril. club' amid trading boom

A growing number of Korean brokerages have surpassed 1 trillion won ($681.8 million) in operating profit this year, driven by a buoyant stock market and a surge in both retail and institutional trading, industry officials said Thursday. The 2-trillion-won threshold is generating growing anticipation — a milestone that would mark a first for the sector. Korea Investment & Securities reported its third-quarter operating profit soared 117.8 percent from a year earlier to 835.3 billion won. Cumulative profit for the first three quarters reached 1.98 trillion won, putting the firm on track to join the so-called "2 trillion won club" by year-end, according to analysts. Other major firms are also seeing robust gains. Samsung Securities, Kiwoom Securities, Mirae Asset Securities, and NH Investment & Securities posted cumulative operating profits of 1 trillion won, 1.14 trillion won, 1.07 trillion won and 1 trillion won, respectively — already crossing the 1 trillion won threshold within three quarters. Trading activity remains the primary driver. Average daily trading volume in the domestic