Softbank Group Corp Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Softbank Group Corp

SFTBY 70.44

-3.2%

Nov 7 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Nihon-jin who wrote ()	1/14/2000 1:14:00 AM
From: Jonas1	Read Replies (1) of 6018

E-Trade Korea approved SEOUL, Jan 14 (Reuters) - South Korea's Financial Supervisory Commission said on Friday it had approved a licence for ETrade Korea to begin operations as an online brokerage. ETrade Korea is a joint venture between Softbank Corp and the ETrade Group (NasdaqNM:EGRP - news). A starting date has yet to be fixed but the firm will likely begin operations as soon as system tests are completed, a company official said. Online stock trading now accounts for more than 40 percent of total stock trading in South Korea, where industry analysts say financial services are moving online faster than in any other country in Asia. Korea has several factors in its favour -- significantly low commission fees, a recovering economy and high Internet usage, they said. Softbank, headed by billionaire Masayoshi Son, is known for its aggressive investment in about 120 Internet-related firms, mostly in the United States. It owns major stakes in Yahoo! Inc (NasdaqNM:YHOO - news), GeoCities Inc and Internet broker ETrade Group Inc (NasdaqNM:EGRP - news). Shareholders of ETrade Korea include South Korea's LG Investment Trust and Securities with 15 percent. Softbank holds a 40 percent stake and ETrade Group has 10 percent. Four individuals hold a 35 percent stake. E*Trade Korea will be capitalised at 10 billion won.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next