Financial companies are rolling out specialized insurance and card products to attract international travelers. For stock investors, new exchange-traded funds (ETFs) focusing on artificial intelligence (AI) and semiconductor industries are also worth a look.
Travelers Get New Protections
On August 31, Samsung Fire & Marine Insurance announced a new special clause for its travel insurance, offering coverage for flight delays and cancellations. The clause provides real-loss coverage, meaning travelers can be reimbursed for expenses like food, drinks, and lodging, up to a maximum of 500,000 KRW (approximately $380 USD), for flights delayed or canceled by two or more hours. This benefit applies to all international flights departing from foreign airports, not just those returning to Korea. Samsung's product is the first in the industry to offer such comprehensive coverage for international flight delays.
Meanwhile, for those planning a trip to Hong Kong, KB Kookmin Card has launched the "KB Kookmin Travelers Check Card Hong Kong Edition." This card offers travel-specific benefits, including discounts at local attractions, restaurants, and transportation. Cardholders can enjoy special offers like discounts on tickets to Hong Kong Ocean Park, a "buy one, get one free" deal for the Victoria Peak Tram, and a 5% discount on Cathay Pacific flight tickets.
ETFs Focus on AI and Semiconductors
For investors interested in the tech sector, new ETF products are entering the market. Samsung Active Asset Management has listed the "KoAct Palantir Value Chain Active" ETF. This fund concentrates 25% of its investment in Palantir, a company that integrates AI into security and defense sectors. The ETF also includes other companies partnered with Palantir, such as Tesla, Oracle, and Alphabet, as well as firms in the U.S. drone, shipbuilding, and defense industries.
In a similar vein, KB Asset Management has launched two new ETFs: "RISE Nvidia Fixed Tech 100" and "RISE AI Semiconductor TOP10." The Nvidia ETF allocates a fixed 25% of its portfolio to Nvidia, with the remaining 75% composed of leading stocks from the KEDI U.S. Tech 100 Index. The AI Semiconductor ETF invests broadly across the domestic Korean AI semiconductor value chain, including major players like SK Hynix, Samsung Electronics, Hanmi Semiconductor, Leeno Industrial, and Wonik IPS.
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