Tax setback over Korea October ETN launch

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Korea Exchange (KRX) is in talks with securities firms about launching exchange-traded notes (ETNs) as early as October this year but a tax issue is proving to be a sticking point in getting the products off the ground. In November, Korea announced a national plan to strengthen the competitiveness of its financial industry with its '10-10 Value Up' plan which aims to generate 10% of gross domestic product from the financial industry over the next 10 years. The plan hinges on easing regulatory

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