Competitive Dynamics and Policy Impact in the ETF Market
The introduction of a new withholding tax policy on dividend income in Korea is garnering attention from investors towards dividend-focused ETFs. This policy aims to provide tax benefits by applying lower tax rates to listed companies’ investors, replacing the current standard income tax rates. However, the announcement of reverting the regulations on major shareholders’ transfer tax and the securities transaction tax has introduced a level of market uncertainty. In the dividend ETF market, a competitive landscape between Kiwoom Asset Management and Hanwha Asset Management exists, raising concerns that the government's tax reform could hinder the 'Korean discount' phenomenon.
Shinhan Investment Corp has launched the 'Global Theme Rotation ETF Wrap', offering a portfolio management service that dynamically responds to market changes by switching between global thematic stock ETFs. The minimum subscription amount is set at KRW 30 million with an optional fee structure, providing tailored investment strategies to investors. Shinhan Investment Corp aims to enhance investment safety by leveraging its research and management capabilities to select optimal themes.
The competition for market share between Samsung Asset Management and Mirae Asset Management in the ETF sector is intensifying, with Samsung's KODEX ETF gaining prominence. Notably, Samsung’s dividend strategy has been positively received by investors, aggressively driving market share. The company's dividend payment policy is satisfying investor expectations, acting as a crucial factor in KODEX ETF's market share growth.
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조선일보2025 7月 24
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