Seoul: South Korea's major brokerage houses are projected to have achieved significant earnings in 2024, driven by a surge in overseas stock trading, industry sources revealed Monday. According to Yonhap News Agency, data from market tracker FnGuide suggests that the combined operating income of the country's leading five brokerage firms in 2024 is estimated to reach 5.66 trillion won (US$3.94 billion). This marks a substantial increase from the previous year's 3.37 trillion won. Korea Investment and Securities Co. is anticipated to report the highest operating income at 1.27 trillion won, followed by Samsung Securities Co. with 1.19 trillion won, Mirae Asset and Securities Co. at 1.15 trillion won, Kiwoom Securities Co. with 1.23 trillion won, and NH Investment and Securities Co. at 923 billion won. The impressive financial outcomes of these firms were partially attributed to commission fees earned from the increased trading of overseas stocks by retail investors. The average daily turnover of the local st ock market was 19.1 trillion won last year, representing a 2 percent rise from the previous year. Meanwhile, trading of overseas stocks by Koreans saw an 84 percent year-on-year increase, reaching $53.1 billion. Additionally, local securities firms reduced their reserves against risky construction development projects compared to the previous year, contributing to their improved financial performance. Looking ahead, these brokerage houses are expected to see further improvements in their performance, supported by anticipated monetary easing cycles and diminished risks associated with unstable construction projects.