Challenges and Shifts in the Domestic ETF Market
The domestic Exchange Traded Fund (ETF) market is facing criticism for the role of its top players, Samsung Asset Management and Mirae Asset Management, in hindering growth. These companies have been releasing nearly identical thematic ETF products around the same time, aiming to protect market share. However, this strategy has been seen as limiting innovation in the market. Over the past two years, there has been a noticeable trend of multiple ETFs released in quick succession under the same concept.
Contrastingly, Yuk Dong-Hwi, the head of ETF Product Marketing at KB Asset Management, highlighted the paradigm shift in the domestic ETF market towards a more demand-driven framework, predicting a rise in defensive ETF demand. He noted the importance of focusing on emerging markets like India and anticipated that the Korean ETF market would follow a development trajectory similar to that of the United States. Yuk further emphasized sustainable growth based on customer trust through a 'snowman strategy.'
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