Korea Capital Market Institute

The Evolving Landscape of US Overnight Stock Trading Markets and its Implications [Senior Research Fellow] Lee, Sungbok / Apr. 29, 2025 Over the eight months since Korean broker-dealers suspended daytime trading services for US stocks, the US overnight stock trading landscape has undergone significant developments. The number of alternative trading systems (ATSs) offering overnight trading sessions has doubled from two to four, and major exchanges are preparing to enter the overnight trading segment. NYSE Arca—... Reassessing the Role of Korea Treasury Bonds in the Korean Financial Market [Research Fellow] Jung, Whayoung / Apr. 29, 2025 In Korea’s financial market, the role of Korea Treasury Bonds (KTBs) has expanded significantly across multiple dimensions. Above all, KTBs serve as a primary instrument for financing the government’s fiscal activities. As the role of fiscal policy expands, the government has increasingly relied on KTB issuance, a trend expected to gain momentum amid weakening private-sector gr... DeepSeek (深度求索) AI and its Implications for Innovation in Financial Services [Research Fellow] Noh, Sungho / Apr. 15, 2025 The recent success of the DeepSeek (深度求索) artificial intelligence (AI) model signals a notable shift in both the competitive landscape of generative AI development and the research and development (R&D) strategies of the financial services industry. DeepSeek AI is a reasoning model, which is the most advanced version of large language models (LLMs), and has demonstrated high le... Improving Tax Treatment for Private Pensions Amid Retirement Pension Reform [Research Fellow] Hong, Wonku / Apr. 15, 2025 In Korea, contributions to retirement pensions and the associated investment returns are tax-exempt, while withdrawals of retirement income are taxed. This tax treatment also applies to public pension systems such as Korea’s National Pension scheme. In contrast, contributions to private pensions, such as personal pension plans, are subject to tax credits.

The discrep... A Critique on the Trump Administration’s Stablecoin Promotion Policy [Senior Research Fellow] Shin, Bosung / Apr. 01, 2025 The Trump administration has publicly expressed its intention to promote privately issued stablecoins. However, allowing the private sector to issue stablecoins effectively entails transferring the sovereign privilege of money creation—traditionally an exclusive function of the state—into private hands, leading to potential side effects. When private entities are granted the po...