A bond ETF with a duration of 17 years loses roughly 17% when rates rise 1%p. Korea's 30-year government bond yield rose 1.459%p this year — and the ETFs tracking it fell 25.39% on average. Here is the arithmetic behind that.
The "8.1% annual average" attached to the 20-year bond's 161.8% maturity return is that total divided by 20. The real compound rate is 4.93%, and 4.41% after tax. Coupon and spread, back-calculated by maturity.
A bonus issue ex-rights reference price equals the prior close divided by (1 + bonus ratio). At 1:8 the quoted price drops to one ninth, but share count rises ninefold, so account value is unchanged.
Korea's August 2026 exports rose 68.7% in headline terms but 72.5% on a daily-average basis. The 3.8pp gap comes from half a working day. Here is the arithmetic, applied down to the product level.
Korea's 1,016 listed ETFs average a 0.3084% stated fee but 0.4982% in all-in cost. Here is where the 1.6x gap comes from, priced out on 10 million won over ten years.
From January 1, 2026, capital reserve dividends are taxable for major shareholders of listed firms and all shareholders of unlisted firms. Only the portion above your acquisition cost counts as dividend income — below it, your cost basis shrinks instead.
Korea's average pump price was 1,860.2 won per liter in early September, of which 697 won is tax. Dubai crude jumped $7.6 to $99.9 a barrel, yet pump prices fell for a 16th straight week — the lag explains the gap.
When a Korean SPAC liquidates, holders get about 2,000 won per share plus modest interest. In 2025 the average first-day intraday high was 4,067 won. Here is the loss math by entry price.
In a technology licensing deal, only the upfront payment is certain at signing. Korean biotech deals have averaged upfronts of 0.48-5.8% of headline value, while overseas deals range from 1.6% to 82%.
In a Korean injeok bunhal (spin-off), shareholders receive new-company shares pro rata; in a muljeok bunhal (split-off), the parent takes 100%. Since December 31, 2024, treasury shares can no longer receive new shares in a spin-off.