Korean Job Discussion Forums

[seoulis]

Can anyone recommend a fund or another investment option in which to leave my Won for a few years?

Please no economic debate, just fund recommendations. Criteria being return and low fees.

[seoul101]

I've been thinking about the same thing.. having spoken to a few people, the Mirae Asset India/China funds seem to be good choices. How much money are you thinking of investing seoulsis?

On the same subject, what happens in 2-3 years when we take the money out - do we have to worry about reporting tax or is it done automatically?

[seoulis]

Mirae... got to check that one out then.

no idea about tax, but i assume it'd be automatic...

[mrsquirrel]

I have money in Latin American funds, Chinese funds and an Emergin Markets fund.

Chinsese one is going well quick down on the Prime housing but it's back up 16% now in the last three months. Emerging markets has slowed down somewhat. Thinking about cashing out on that, Latin America has performed well but slowed down in the last quarter. Might pick up again.

Gartmore is the Chinese fund. Longest running Chinese fund. If you buy from a fund supermarket the rates are pretty good as well.

[itaewonguy]

its 15% tax for foreign markets!
depending on your bank! roughly 1% goes to them.,..

yes as seoulman101 mentioned those are top funds that Koreans are investing, the states were something like 80% of korean households invest in funds...
the returns are high.. but so are the risks...

[seoulis]

[seoul101]

Another question,

Hypothetically, what happens if someone has a fund in Korea for 3 years, but after that time are not working here. Would the investment firm be happy to let you withdraw your money after the 3 years without having a registration card/visa..? For example, passing through Korea travelling.

3-5 years is a long time, hard to say if I'll still be teaching here.

[mrsquirrel]

There are funds already investing in Korea.

Search on FT.com

[itaewonguy]

[Capo]

I like Pacific Assets, it is managed by Foreign and Colonial, not sure about buying it here I bought it with my broker in the UK about a month ago and it is already up 20%, it beats the socks off that dog japanese i swapped it for.

http://www.trustnet.co.uk/it/funds/?fund=143
These are the largest holdings in the funds, sorry I caN'T INSERT A TABLE SO IT WILL BE MESSED UP. but u cud click the link abouve
Holding (%) Rank Prev Holding (%) Rank Prev
CHINA SHIPPING DEVELOPMENT CO 5.2 1 (1) SHINHAN FINANCIAL GROUP 2.9 6 (2)
GS ENGINEERING & CONSTRUCTION CORP 3.2 2 (4) WISTRON CORP 2.9 7 (3)
CHINA COAL ENERGY COMPANY 3.0 3 (6) HON HAI PRECISION INDUSTRY 2.8 8 (9)
KEPPEL CORP 3.0 4 (5) CHINA WATER AFFAIRS GROUP 2.6 9 (
CHINA MOBILE LTD 2.9 5 - UNITED OVERSEAS BANK 2.5 10 (7)
Regional weightings - 31-Aug-07


Region (%) Prev
South Korea 20.0 (1)
Hong Kong 18.9 (2)
Taiwan 16.5 (3)
China 14.4 (5)
Singapore 13.7 (4)
Others 9.1 (6)
Malaysia 6.3 (7)
Liquidity 1.1 (
Total

[seoul101]

Capo, Pacific Assets looks interesting.

Does anyone recommend an online broker in the UK? I'd like to open an account online while in Korea and transfer money from my UK account.

How about taxes in the UK?

For some reason I feel safer having my money in sterling rather than won

[mrsquirrel]

Halifax

www.halifax.co.uk

Excellent service and you can get cheaper rates if you invest at a set day every week.

Tax wise you get issued a tax certificate at the end of the year from them available online.

Depends if you are registered as domiciled in the UK or not.

[itaewonguy]

who are you guys using in KOrea. im using the bank..
but would like to move to brokerage firm or such..
anyone got any tips?
the service at the bank is not that great, they dont have a good portfolio and dont make it easy to see daily stats.

JP morgan, or fidelity do they have offices in korea? im assuming they do, anyone been down there? how was the service?

[bobbyhanlon]

don't invest in china right now. just stick with a korea fund

[itaewonguy]