The Need for Loss Netting in the Education Tax Base: Focusing on Market Makers and Liquidity Providers [Senior Research Fellow] JANG, GEUNHYUK / Jun. 16, 2026 Market makers (MMs) and ETF liquidity providers (LPs) in the stock market inherently engage in both trading and hedging transactions as part of their liquidity provision activities. Accordingly, the net profit or loss resulting from the netting of gains and losses on these transactions represents their actual earnings, which is economically analogous to brokerage commissions. U... Executive Compensation Disclosure and Performance among Listed Firms in Korea: Current Status and Implications [Research Fellow] Lim, Nayeon / Jun. 02, 2026 Starting with this year’s semi-annual reports, companies are required to disclose items related to executive compensation in greater detail. One of the major revisions is that companies must disclose the total compensation and average compensation per person for directors and auditors, together with corporate performance indicators such as operating income and total shareholder... Stabilizing the Non-Apartment Rental Market and the Role of Institutional Investors [Research Fellow] Lee, Jaeyeon / Jun. 02, 2026 As the structural vulnerabilities of the non-apartment monthly rental market have come to light following a surge in Jeonse fraud cases, the government established an institutional framework in 2024 to enable institutional investors to enter the rental housing market. Global institutional investors have since moved proactively into Korea's officetel and co-living market. Their ... Differentiated Blockchain Strategies in the U.S. Financial Sector and Implications for Korea [Research Fellow] Kim, Jinyoung / May. 19, 2026 Blockchain technology in U.S. capital markets has moved well beyond cryptocurrency investment to establish itself as foundational infrastructure across the broader financial system. As the U.S. digital asset regulatory framework takes shape — marked by the enactment of the GENIUS Act in July 2025 and the passage of the CLARITY Act through the House — asset managers, investment ... Kosdaq Market Development and the Role of Small- and Mid-Sized Securities Firms: Implications from U.S. Small- and Mid-Sized Investment Bank Cases [Senior Research Fellow] Lee, Seokhoon / May. 19, 2026 For the Financial Services Commission's recently announced "KOSDAQ Market Trust + Innovation Enhancement Plan" to yield substantive outcomes, the market's intermediation function—which properly values KOSDAQ-listed companies and channels that valuation into long-term investment—must be complementarily strengthened. The key players in this regard are small- and mid-sized securit...