The Korea Securities Depository reported on the 7th that the outstanding issuance balance of equity-linked securities (ELS) and equity-linked derivative bonds (ELB) was 51.6 trillion won as of the end of 2024, down 23.1% from the end of 2023.
The decrease in the new ELS and ELB issuance scale and the increase in redemption amounts influenced this. The issuance amount of ELS and ELB last year was 55.27 trillion won, a 12% decrease from 2023. During the same period, the redemption amount of ELS and ELB increased by 6.5% to 71.02 trillion won.
In particular, the issuance amount of ELS, including the Hong Kong H index, sharply fell by 81.9% to 978.2 billion won compared to 2023. The issuance amount of ELS, based on the Standard & Poor's (S&P) 500 index and the EURO STOXX 50 index, also decreased by over 50% in one year. The issuance amount of ELS based on the KOSPI 200 index was 18.59 trillion won in 2024, an increase of 1.8% compared to the previous year.
The top five securities firms accounted for 51.4% of the issuance amount of ELS. The market shares of the firms were led by Korea Investment & Securities with 14.9%, followed by ▲Shinhan Investment Corp. 11.3% ▲NH Investment & Securities 8.9% ▲Mirae Asset Securities 8.6% ▲Hana Financial Investment 7.7%.