Online trading skyrockets in South Korea
REUTERS
SUNDAY, AUGUST 25, 2002
SEOUL: Click, Click, Click. That's the way most South Koreans buy and sell stocks now. Helped by one of the world's highest Internet penetration rates, online trading has carved out a record 52 per cent of total turnover on the Korean bourse, from a mere 1.9 per cent in 1998.
Trading this way gives many punters an edge over conventional methods of placing orders by telephone, or face-to-face.
"It's easier, faster and cheaper," said Yoon Yong-nam, 38, a former investment banker who spends several hours each day buying and selling stocks on his home computer.
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