Korean ELS Volume Expected To Recover, But Not Until Q3: Samsung’s Gyun Jun

The Korean equity-linked securities market faced severe damage from COVID-19 shock. In March, the volume of ELS issued was KRW3.8 trillion, its lowest level since December 2018. Gyun Jun, senior analyst at Samsung in Seoul, South Korea, expects the ELS market to gradually increase over the next six months as he thinks the global stock market will recover. The pandemic phase will soften in the second half of the year, Jun said, and the global economy would resurge by way of pent-up demand and delayed investments. “So, the ELS volume will reach KRW18 trillion in Q3,” he said.