Internet Eclipses Conventional Trading in Korea

TOKYO (04/25/2000) - In Korea, the month of March will go down in the history books as the first time the value of stocks traded through Internet brokers was greater than that traded through conventional brokers, according to data just released by the Korea Securities Dealers Association (KSDA).

The industry organization said Internet stock trading accounted for 51.0 percent of all trades by value, up from 49.1 percent in February. The total value of all stocks traded in the month was 341.8 trillion won (US$307.9 billion) of which 174.3 trillion won in value was traded online, said Yoon Ji Choi of the KSDA.

The total value of all online trading was 203.7 trillion won in March. This figure includes online stock trading and an additional 28.8 trillion won in futures trading and 7.0 trillion won in options trading, Choi said.

The number of online brokerage accounts continued to grow in March, hitting 2.71 million, which represents 13.5 percent of all active stock trading accounts. On the month, online brokers added approximately 300,000 accounts.

The KSDA, in Seoul, can be contacted online at http://www.ksda.or.kr/.

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