Korea Exchange (KRX) said on the 28th that BNK Asset Management's "BNK Kakao Group Focus ETF" will be newly listed on the main bourse on Dec. 2.
The "BNK Kakao Group Focus ETF" is a passive ETF that invests mainly in Kakao group listed corporations. It consists of 15 components and is regularly rebalanced within two trading days after futures and options expiration in March and September.
The ETF invests a total of 90% in the conglomerate groups subject to the cross-shareholding restriction announced by the Fair Trade Commission, among affiliates belonging to the Kakao group. These include Kakao, Kakao Pay, KakaoBank, Kakao Games, SM, SM C&C, SM Life Design, DearU, KeyEast, and Neptune.
The remaining 10% invests in the top five market-cap stocks within the industries to which the top five Kakao group affiliates by market capitalization belong.
Korea Exchange (KRX) said, "Differences may arise between index performance and fund performance due to management costs and component changes, and an accurate understanding of the underlying index and other inherent product structures is necessary."