Korean Job Discussion Forums

[linky123]

Can some one provide some information as to the investment options for an ex-pat? How can I invest in funds, stocks and bonds in the Korean market? Also, how do I build credit for mortgages and loans for a car in Korea? Is it difficult for a foreign ex-pat to establish a financial portfolio like I had in the states?

[Otherside]

In a nutshell, very difficult. KEB offers some very limited investment funds (of which it doesn't display the specifics online) all the other banks I've looked at don't say anything (in English).

I checked out one of the biggest brokers in Korea, Mirae Asset, and again there site doesn't provide any specifics (just explains their business etc). While it may be possible to walk in and get some services, if they can't provide DETAILED information in English, I'm not going to be all that keen on investing in a fund where I can't read the fine print.

Loans and financing, not too sure (as I'm not looking for that), however, from what I've read here, most guys can't any financing for houses/cars etc. Those married to Koreans, are able to get them in their wife's name, but not their own. (I'm sure there are exceptions to this, but I've read many accounts where this is the case).

What I'm doing. I'm opening an account in Hong Kong. (with either SC or HSBC, in the process of weighing them up). Each offers international debit cards, online payments/remittances (abroad) and the ability to trade on the Hong Kong stock exchange online. They also both offer a huge selection of unit trusts (funds). So check them out.

Korean financial institutions have made it clear that my business is a hassle to them and that they'll provide the most basic array of services possible. I hate being a burden on them, so I'm going to take my (most profitable) business elsewhere.

[Jane]

Yes, from what I can gather, Korean inventment outfits and banks are not too concerned with the foreign populace and our money.
Having said that, I know a number of 'foreigners' who have investments with Korean institutions, the thing is you need to seek out an English broker. Mirae Asset has some English speakers, so does Samsung Cheunggwon.

Another thing to keep in mind that 'foreigners' who invest in Korean products are not taxed on income. You must have an ARCard to be eligible for this. (I've known some people who maintain residency here for this simply fact!)

Sorry I can't recommend brokers, but maybe give a call to Mirae Asset an they can help you locate a branch with an English speaker.

A little info here:

http://www.miraeasset.com/main/index.do

[bobbyhanlon]

i haven't done this for a couple of years (i'm one of those losers who left korea and misses the place so much he thinks about going back all the time, but knows he would end up hating it again so doesn't actually make the move) but to my knowledge the only broker with english service is samsung. the others have english pages but just 'investor relations' and that kind of stuff.

unfortunately they also have the highest commission. mirae is pretty cheap, kiwoom.com is really cheap, but they don't have english service. the fact is that the number of non korean speakers who want to buy stocks or funds can't really justify it for them.

however the korean stock market is really interesting. i used to love trading it.

[phoneboothface]

[bobbyhanlon]

yeah i'm no longer in korea.. like i said, i left, and kind of miss the place.
korean stocks offer pretty awesome volatility, although i'd bet chinese stocks are even crazier. one of my business aims in life is to start a small fund in china (with a local partner) to trade the chinese 'a' shares. i reckon an average trader by european/us standards could clean up there.

[DaeguKid]

I have an investor here in Korea. It is not directly related to the KOPSI but there is a fund that is offered that is directly related. It is tax free for Canadians and in the middle of all this "economic crisis" I am up over 15% and doing well. If you are interested in getting in touch with this fellow, PM me and I will be happy to pass the info on.
Cheers
DK

[Otherside]

[bobbyhanlon]

www.samsungfn.com is the main page of samsung securities, and you can just follow the english link.
actually many of the brokers do translate reports into english, esp. samsung and hyundai.. their recommendations are completely useless (ie. everything is a 'buy' because of massive conflicts of interest) but they are a good source of news and financial data.
also its good to teach yourself how to read a balance sheet in korean, then you can use stock.naver.com and do some proper valuation. to my mind valuation is everything (well.. with a little bit of market timing) and since there are so many retail investors in korea who have no idea how to do it, mispricings are pretty frequent.

[stayfocused]

[bobbyhanlon]

you're in seoul, right? i would guess apgujong would be ground zero for english speakers. i had my account with samsungfn there and also another one with mirae asset, and both offices had people who spoke pretty good english. also since i was pretty much the only waygukin customer they had, they were curious about me and gave me more time and help than i was probably entitled to.

in the long run though, definitely teach yourself some korean investment vocabulary. english language info isn't published on most companies so you're at a big disadvantage in not knowing what is going on.

commission in korea is low- much lower than anything you'd pay in a western country. you can pretty much day-trade if you want, thats how low commissions are. something like 1000won per trade if i remember rightly.

[2556375]

I need a Broker that has the lowest fees.I do not want to pay for advice since its generally expensive.So I just need a barebones investment trading account.

Next up I need to know if there are any significant tax implications/rules for foreigners investing on the stock market here in Korea?Specifically trading and not investing.

Also where can I read articles for the stocks in Korea?
PLEASE HELP!

[lowpo]