South Korea’s ELS issuance rises in October but uncertainties remain

The sales volume of equity-linked securities (ELS) is picking up pace in South Korea, allowing banks that were battered by plunging stock markets in October to gain some breathing space. The figure came in at more than KRW5.3 trillion (US$4.7 billion) in October, up almost 30% from the previous month, according to Korea Securities Depository. It also marks two straight months of increase in the new ELS issuance volume. The amount invested plunged in July after investors as well as banks stayed