Seohak ants Dividend 1 Billion Dollars Surpassed…Doubled in 1 Year, Coinbase ETF is No.1

Domestic investors who invest in overseas stocks, so-called 'Seohakants', have received dividends exceeding 1 billion dollars in the first half of this year. This figure has increased more than twice compared to last year.

According to data released by the Korea Securities Depository on the 21st, the foreign securities dividends paid to general domestic investors in the first half of 2024 amounted to a total of 1 billion 56 million dollars (about 1.4 trillion won). This is an increase of 107% compared to the same period last year.

Most of the dividends came from the US market. The dividends paid from US stocks amounted to 929 million dollars, accounting for 92.4% of the total. The share of the US market has been steadily rising every year, from 76.3% in 2021 to 89.3% in 2024.

On a country basis, Japan followed, but the dividends amounted to only 5.2% of the total at 5.2%. The share of all other markets was below 1%.

By item, US-listed ETFs dominated the top ranks. The stock that received the most dividends was an ETF based on Coinbase stock, with 1,240,500 dollars paid in the first half. All of the top 10 stocks were ETFs, and no general stocks were included. However, Realty Income drew attention by ranking 11th with 17 million dollars.

The depository explained the foreign securities dividend payment process as a “complex structure involving multiple steps, unlike domestically,” and added, “Due to the nature of cross-border transactions, time differences and processing time differences are inevitable.” It further stated, “We will continue to focus on improving the system to ensure the rights of domestic investors promptly and accurately.”

The expansion of dividends centered on overseas ETFs is interpreted as a cross-section of the Seohakant's investment strategy gradually changing to consider dividend income.