Simply Samsung

Margins are under pressure in South Korea as commercial banks seek direct access to retail investors in a disintermediated market. But Samsung Securities' strong franchise and expertise in distributing local equity products leaves it well placed to cope in a space awash with new entrants. Matt Cameron reports

"Deregulation in the South Korean structured products market has meant that competition has become increasingly fierce, with more foreign banks targeting both institutional and retail clients in the over-the-counter derivatives space and other investment products," says Wonjae Chang, head of equity trading and sales at Samsung Securities in Seoul. "Traditional suppliers of structured products are also facing a threat of disintermediation as Korean commercial banks are looking for direct routes