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Today the Korea Exchange, the Tokyo Stock Exchange, Inc. and Samsung Investment Trust Management Co., Ltd. announced the listing of KODEX Japan ETF (TOPIX100) on the Korea Exchange, giving both institutional and private investors in Korea easy access to Japan's shares for the first time through the TOPIX100. The listing of this ETF, which follows the listing of KODEX 200 ETF in Tokyo on November 19, 2007, is a direct result of discussions between the two exchanges based on the cooperative agreement signed in July, 2006.
Young-Tak Lee, Chairman and Chief Executive of the Korea Exchange commented:
"I would like to say that the listing of the KODEX Japan ETF tracking TOPIX100 of the Tokyo Stock Exchange (TSE) on the Korea Exchange (KRX), which is an outcome of the cooperation between the two Exchanges, is a truly meaningful development. The KODEX Japan ETF, the first Japanese product listed on the KRX, provides the local investors with an uniquie opportunity to diversify their investment by making the access to Japan's blue-chips easy and less expensive. Besides, the cross-listing of such foreign products will greatly contribute to the globalization and product diversification of the two Exchanges.
Atsushi Saito, President & CEO of the Tokyo Stock Exchange, Inc. commented:
"The TSE is delighted with the Korea Exchange's listing of an Exchange Traded Fund based on the TOPIX 100 composed of Japanese representative stocks. This ETF enhances convenience for Korean investors by increasing the number of tools for investing in Japanese stocks at their disposal, and we expect that this listing will provide the impetus for a further enhancement of capital flows between Korea and Japan."
Jae-Young Kang, President & CEO of. Samsung Investment Trust Management Co., Ltd. commented: "We are pleased to launch KODEX Japan ETF which is the second ETF tracking overseas index. By listing KODEX Japan ETF on Korea Exchange, we at Samsung Investment Trust Management Co., Ltd. hope Korean investors whom have a high interest in the Japanese stock market to access Japanese stock market with ease and cost-efficiency."
The KODEX Japan ETF is based on the Tokyo Stock Price Index100 (TOPIX100). The TOPIX100 index is a free float adjusted capitalization-weighted index designed to measure the performance of the 100 most liquid stocks with the largest market capitalization that are member of the TOPIX index. The KODEX Japan ETF aims to achieve a result that corresponds closely with the benchmark index. With a single transaction of KODEX Japan ETF, Korean investors can easily access Japanese market with convenience and cost-effectiveness.
