Data released on Friday by the Financial Supervisory Service (FSS) showed that the combined net profit of 61 South Korean securities firms reached 4.33 trillion won (approximately $28.3 billion) in the first quarter of this year, a sharp 77% increase year-on-year. This figure significantly exceeded expectations, primarily driven by growth in commission income from a surge in stock trading.

Fueled by the sharp rise in stock transactions, the combined commission income of these firms in the first quarter nearly doubled, increasing from 3.33 trillion won in the same period last year to 6.69 trillion won. Concurrently, their combined income from proprietary investments or stock trading grew by 31%, reaching 4.1 trillion won.

According to FSS statistics, from January to March this year, the stock trading volume on the South Korean stock market reached 2,775 trillion won, a substantial increase from 641 trillion won during the same period last year.

As of the end of March, the total assets of these securities companies stood at 1,098.4 trillion won, an increase of 154 trillion won, or 16.3%, compared to three months prior. Over the same period, their liabilities grew by 26.8%, reaching 991.5 trillion won.