South Korean securities industry tightens its belt

02/4/2013 | Korea Herald (Seoul), The

The toll in lost personnel and retail branches has been heavy in South Korea as brokerage firms pare back to cope with an economic slowdown. The moves come after operating profits of 17 securities firms plunged 41% in the first half of 2012 from a year before. The outlook may be grim as well, with the Korean won holding up against a weakening Japanese yen.

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Korea Herald (Seoul), The

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