[Economy 365]

Asset management companies in South Korea posted a record-high net profit of 2.6889 trillion won in the second quarter, surging 83.4 percent from the previous quarter.

The growth was driven by increases in fee income and securities investment gains, fueled by rising stock prices and the expansion of the exchange-traded fund (ETF) market.

However, 42.9 percent of the total 513 firms recorded net losses.

*This article was produced with AI audio.