Samsung Asset, Commemorating the Listing of Native ETF on NYSE... Attends 'Opening Bell' Ceremony

Samsung Asset Management announced on the 23rd that it attended the New York Stock Exchange (NYSE) 'Opening Bell' ceremony on the 22nd (local time) to commemorate the listing of the Amplify Samsung SOFR ETF (ticker: SOF), an exchange-traded fund (ETF) specializing in the U.S. market, jointly launched with Amplify last November on the NYSE.

Seobonggyun, CEO of Samsung Asset Management (front row center), Christian Magoon, CEO of Amplify (center left), and others attending the "Opening Bell" event held at the New York Stock Exchange on the 22nd. Photo by Samsung Asset Management

At the Opening Bell event, Samsung Asset Management CEO Seobonggyun, Head of ETF Operations Im Taehyuk, Amplify CEO Christian Magoon, and Deputy Consul General Park Mungyu of the New York Consulate General attended. After the Opening Bell, Samsung Asset Management and Amplify held a session introducing the SOFR ETF product.

The Amplify Samsung SOFR ETF is listed on the NYSE by Amplify, a strategic partner of Samsung Asset Management, while the New York local office of Samsung Asset Management is fully responsible for its management. SOF is a product that replicates the structure of the KODEX U.S. Dollar SOFR Interest Rate Active ETF, which Samsung Asset Management first listed on the domestic market in March last year, marking the first case of a domestic Korean ETF being exported to the U.S. market.

SOF is a product that tracks the return of the U.S. SOFR index. Since SOFR is a benchmark interest rate calculated daily based on one-day repurchase agreement (RP) transaction data secured by U.S. Treasury securities, SOF is a dollar parking-type ETF that can compound a daily ultra-short-term interest rate of about 5% annually without loss.

SOF is a monthly distribution product, currently recording net assets of approximately 200 billion KRW, more than three times the amount at the time of listing, and an annualized dividend yield of 5.34%. It is available for direct investment in dollars both locally and in the U.S., making it suitable for those wishing to hold dollars and for investors with overseas stock investments to use as a standby fund investment.

CEO Seobonggyun said, “I am proud to participate in the bell-ringing ceremony commemorating the first listing of a domestic Korean ETF developed by Samsung Asset Management’s Kodex on the New York Stock Exchange.” He added, “As a leading Korean asset management company, we will continue to create successful cases of exporting our innovative products to the global ETF market, striving to elevate the status of Korean financial firms in the global market.”