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Mon, Aug 26, 2002 - Page 12 News List

Online trading skyrockets in wired S Korea

INVESTOR TREND With one of the highest rates of Internet use in the world, it's hardly a surprise that the prevalence of online trading has skyrocketed. The total value of share trading done online last year was above 50 percent

REUTERS , SEOUL

Trading from a PC clearly wins hands down in terms of convenience, but some people have security concerns.

They fear personal information, such as bank account numbers, could be leaked or worry that a computer glitch could misinterpret buy and sell orders.

There have been no major reports of online security breaches in South Korea, but there have been problems elsewhere in the region.

Although South Korea's e-broking binge has yet to really engulf other part of Asia, potential for growth looks bright.

Daewoo Securities, the third largest brokerage house in South Korea, said it signed a contract last month to help Guotaijunan Securities Co in China build an e-broking system.

"China is also keen on online trading," said Kim Hong-wook, a Daewoo spokesman.

"Once all the infrastructure is set up, potential demand [for online trading] looks huge in China and other Asian countries."

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