Taiwanese and Korean Exchanges Cross List ETFs
Both ETFs will be the first index-based products to track Korean and Taiwanese securities in each market.
In Taiwan, the Yuanta Korea Kospi 200 ETF is managed by Taiwan's Yuanta Securities Trust Co. and tracks the benchmark Kospi 200 index, which consists of the 200 largest companies listed on the KRX's Kospi market and represents 95 percent of its total market capitalization.
In Korea, the Tiger Taiwan Taiex (H) ETF is managed by Korea's Mirae Asset Global Investment and tracks the benchmark Taiex index, which covers all listed common shares traded on TWSE and is the benchmark index for the Taiwan securities market.
Jun-Ji Shih, chairman of TWSE, said in a statement: "Our deepening cooperation with KRX is the latest part of our ongoing strategy to work with overseas exchanges to help create listed products that further internationalize the Taiwan capital market."
Chan-woo Jeong, chairman and CEO of the Korea Exchange, said that the listing of ETFs on both markets is expected to serve as an exemplary practice that will pave the way for the expansion of investment in capital markets in Taiwan and Korea through cooperative exchanges between the two markets.
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