◆Aju Economy Top Stories
▷At least 70 hires planned this year as a bigger, more powerful FSS expands
-According to the financial industry on the 21st, South Korea’s Financial Supervisory Service recently completed selection of 40 experienced hires — 30 certified public accountants and 10 lawyers — and is preparing final placements. It is the largest experienced-hire intake since such recruiting was halted after a 2017 hiring scandal and resumed in 2023.
-The FSS also plans additional hiring to strengthen its special judicial police function. FSS Gov. Lee Chan-jin said 30 more personnel would be added. Including that, experienced hiring this year is expected to exceed at least 70 people.
-The expansion would push the FSS workforce close to a record high. Total headcount stood at 2,392 as of the end of last year, and is expected to rise above 2,500 if new graduate recruitment proceeds.
-An FSS official said, “As President Lee Jae-myung has stressed strict punishment of unfair trading, the presidential office frequently contacts front-line departments,” adding, “This staffing increase is an extension of that policy direction.”
-Concerns are also growing as authority expands. Critics point to worries about a gap in investigative oversight tied to changes in the prosecution’s command structure, and unresolved issues of overlapping roles with existing bodies such as joint response teams.
◆Key Report
▷KOSPI retakes highs after two months, sets new record [Yuanta Securities]
-On the 21st, the KOSPI rose 2.7% and the KOSDAQ gained 0.1%. Despite mixed moves in U.S. stocks the previous session, the rally continued and the KOSPI set a new record, topping the prior 6,307 points. The report said markets appear increasingly accustomed to volatility, with attention shifting from geopolitical risks to fundamentals such as earnings.
-Exports for April 1-20, released that day, totaled $50.4 billion — up 49.4% from a year earlier — with semiconductor exports up 182.5%, a record that lifted earnings expectations. News flow about U.S. Vice President J.D. Vance’s departure for a second round of talks and the possibility of participation in Iran talks also supported sentiment, the report said.
-Using an unchanged earnings-per-share assumption, the 12-month forward price-to-earnings ratio stood at 7.67 times. The report cited deep-value appeal and expectations for further semiconductor profit growth, with gains led by large caps including SK hynix, up 5.0%, and Samsung Electronics, up 2.1%.
◆Major filings after the close (21st)
▷LS ELECTRIC posts 126.6 billion won in Q1 operating profit, up 45% from a year earlier
▷CSA Cosmic: “Additional acquisition of shares in subsidiary Gentro Group for 2.5 billion won”
▷KG Steel: “Acquisition of Daehan Electric Wire shares worth 110 billion won; stake 4.9%”
▷Bukwang Pharmaceutical Q1 operating profit plunges 63%; “impact of expanded outsourced production”
▷KB Financial makes voluntary information-security disclosure; “strengthening financial consumer protection”
◆Fund flows (as of the 20th, excluding ETFs)
▷Domestic equity funds: 53.4 billion won
▷Overseas equity funds: -23.1 billion won
◆Key events today (22nd)
▷South Korea: Producer Price Index (March)
▷United Kingdom: Consumer Price Index (March), Producer Price Index (March)
▷Eurozone: Consumer confidence (April)
▷Bonds: U.S. Treasury auctions for 5-year and 20-year notes
* This article has been translated by AI.
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