Successful Launch of Shinhan Asset Management's New ETF
Shinhan Asset Management's newly launched 'SOL Korea High Dividend' ETF quickly sold out its initial offering within the first hour of trading. The ETF attracted 21.5 billion won from individual investors, and total sales reached 27 billion won when including purchases through retirement accounts. This ETF differentiates itself by strategically incorporating tax benefits for dividend income and a non-taxable dividend reduction, setting its estimated annual dividend yield at 6.68%. The first monthly distribution is scheduled for November 17.
The South Korean stock market is witnessing a surge in ETF interest due to the government's dividend-promoting policies. Besides Shinhan's offering, Hanwha Asset Management's 'PLUS Share Buyback High Dividend', and Samsung Asset Management's 'KODEX Financial High Dividend TOP10' ETFs have also been newly listed as part of this trend. The government is considering reducing the maximum separate taxation rate on dividend income, which could further catalyze growth in the high dividend ETF sector.
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