The total traded volume of equity-linked securities (ELS) and equity-linked bonds (ELBs) have increased in 2021 year-on-year (YoY) led by public offerings that feature overseas index underlyings.

That amount reached KRW72.2 trillion (US$60.2 billion), up 4.5% YoY, which also represented a 27.8% decline compared with the peak recorded in 2019, according to a report released by Korea Securities Depository (KSD). ELS accounted for 68.2% of the issuance amount, or KRW49.2 trillion, which translated to a 14% increase YoY, while ELBs dropped 14% to KRW22.9 trillion in 2021. Public and private offerings made up 89.7% and 10.3% of the whole issuance, respectively – the proportions were

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