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ETFs Compared
5
All UCITS, ISA eligible
Cheapest Fee
0.09%
Franklin FTSE Korea
Most Expensive
0.65%
iShares MSCI Korea
Fee Difference
7x
£560 over 10 years*
Five dedicated South Korea ETFs are available to UK investors in a Stocks & Shares ISA. They hold broadly the same stocks — Samsung, SK Hynix, Hyundai — but differ significantly on fees, fund size, and which platforms sell them. Here’s the full comparison.
The short answer
The Franklin FTSE Korea UCITS ETF (FLXK) costs 0.09% per year — seven times cheaper than the iShares alternatives at 0.65%. It’s the largest Korea ETF by fund size and available on most major UK platforms including HL, AJ Bell, Interactive Investor, and Trading 212.
Full Comparison: Fees & Platform Availability
| ETF |
Ticker |
Fee |
Size |
Type |
HL |
AJ Bell |
ii |
T212 |
Fidelity |
Freetrade |
| Franklin FTSE Korea |
FLXK |
0.09% |
£1,808m |
Acc |
✅ |
✅ |
✅ |
✅ |
✅ |
❌ |
| Xtrackers MSCI Korea 1C |
XKS2 |
0.45% |
£60m |
Acc |
✅ |
✅ |
✅ |
❌ |
❌ |
❌ |
| HSBC MSCI Korea Capped |
HKOR |
0.50% |
£404m |
Dist |
✅ |
✅ |
✅ |
✅ |
✅ |
❌ |
| iShares MSCI Korea (Dist) |
IKOR |
0.65% |
£562m |
Dist |
✅ |
✅ |
✅ |
⚠️ |
✅ |
❌ |
| iShares MSCI Korea (Acc) |
CSKR |
0.65% |
£349m |
Acc |
✅ |
✅ |
✅ |
⚠️ |
❌ |
❌ |
✅ Available ❌ Not available ⚠️ Check — some iShares Korea trading lines were delisted in late 2025. All 5 ETFs are ISA and SIPP eligible.
What the Fee Difference Actually Costs You
A fee of 0.09% vs 0.65% might sound trivial. It isn’t. Here’s what it means in real money on a £10,000 investment over time, assuming 8% annual returns:
Franklin FTSE Korea (0.09%)
£21,389
After 10 years · £90 total fees paid
iShares MSCI Korea (0.65%)
£20,829
After 10 years · £650 total fees paid
That’s £560 more in your pocket from the Franklin ETF, just from the fee difference. The underlying holdings are nearly identical — both track large and mid-cap Korean stocks dominated by Samsung, SK Hynix, and Hyundai. You’re paying more for essentially the same product.
A note on hidden costs
The ongoing charge isn’t the only cost. South Korea applies a 22% dividend withholding tax at source — this is deducted inside the fund before dividends are reinvested or paid out, regardless of whether you hold the ETF in an ISA. The impact is small (Korean dividend yields are low) but it means your true cost of ownership is slightly higher than the headline fee.
The one reason to pick iShares anyway
The iShares MSCI Korea ETF (Dist) version (IKOR) pays dividends out rather than reinvesting them. If you specifically want income from your Korea holding, the iShares distributing version or the HSBC distributing version (HKOR at 0.50%) are your options. For most ISA investors, accumulating is simpler.
Each ETF in Detail
Our Pick
Franklin FTSE Korea UCITS ETF
FLXK · FTSE Korea 30/18 Capped · Accumulating
HL
AJ Bell
Trading 212
Interactive Investor
Fidelity
ISA Eligible
The cheapest and largest Korea ETF. Tracks the FTSE Korea 30/18 Capped index, which limits Samsung to 30% of the fund. Dividends are reinvested automatically. The only Korea ETF available on Trading 212.
Full Review
Franklin FTSE Korea ETF (FLXK) — Complete UK Investor Guide →
Deep dive into holdings, performance, how it compares to iShares, and exactly how to buy it on each platform.
HSBC MSCI Korea Capped UCITS ETF
HKOR · MSCI Korea 20/35 · Distributing
HL
AJ Bell
Trading 212
Interactive Investor
Fidelity
ISA Eligible
Mid-range option. Cheaper than iShares but five times more expensive than Franklin. Distributing — pays dividends semi-annually. Morningstar Silver rated. Good liquidity.
iShares MSCI Korea UCITS ETF (Dist)
IKOR · MSCI Korea 20/35 · Distributing
HL
AJ Bell
Interactive Investor
Fidelity
ISA Eligible
The longest-running Korea ETF (2005). Widely available but the most expensive option. Some trading lines were delisted in late 2025 — check availability on your platform before ordering.
iShares MSCI Korea UCITS ETF (Acc)
CSKR · MSCI Korea 20/35 · Accumulating
HL
AJ Bell
Interactive Investor
ISA Eligible
Accumulating version of the iShares ETF — same holdings, same 0.65% fee. If you want accumulating, the Franklin ETF does the same thing for 0.09%.
Xtrackers MSCI Korea UCITS ETF 1C
XKS2 · MSCI Korea 20/35 Custom · Accumulating
HL
AJ Bell
Interactive Investor
ISA Eligible
Mid-price but very small fund at £60m. Smaller funds can have wider spreads and higher trading costs. Limited platform availability. Hard to see a reason to choose this over Franklin.
How to Buy in Your ISA
1
Check your existing Korea exposure first
Already hold a global ETF? FTSE-based funds (VWRL, VWRP) already include South Korea at ~1.5%. MSCI-based funds (SWDA, IWDA) don’t. Read our full explainer on this →
2
Pick your ETF
For most people: Franklin FTSE Korea (FLXK). Cheapest fee, largest fund, accumulating. If you want dividends paid out: HSBC MSCI Korea Capped (HKOR) at 0.50%.
3
Check the table above for your platform
FLXK and HKOR have the widest availability. If you’re on Freetrade, none of these are currently available — you’d need to use a broader emerging markets ETF instead.
4
Search the ticker in your ISA
Search “FLXK” and select the London Stock Exchange listing. Some platforms show multiple exchange listings — always pick LSE for the tightest spreads and to avoid unnecessary currency conversion.
Performance context
The 1-year returns shown above (~115-117%) reflect an unusually strong period driven by AI-related semiconductor demand. Korean equities are volatile — the KOSPI fell over 35% in 2022. Don’t assume recent returns will continue. These are single-country funds and should be treated as a tactical position, not a core holding.
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Frequently Asked Questions
Which South Korea ETF is cheapest?
The Franklin FTSE Korea UCITS ETF (FLXK) at 0.09% per year. On a £10,000 investment, that’s £9 per year in fees. The most expensive option is iShares at 0.65% — £65 per year for broadly the same holdings.
Can I buy South Korea ETFs on Trading 212?
Yes — Franklin FTSE Korea (FLXK) and HSBC MSCI Korea Capped (HKOR) are both available on Trading 212 with zero commission. The iShares versions may have limited availability following trading line delistings in late 2025.
Are South Korea ETFs ISA eligible?
Yes, all five ETFs in this comparison are UCITS-compliant and eligible for UK Stocks & Shares ISAs and SIPPs. Returns within an ISA are free from capital gains tax and dividend tax.
Why not just buy Samsung shares directly?
You can, but Samsung alone wouldn’t give you diversified Korean market exposure. These ETFs hold 80-100+ Korean companies across technology, industrials, financials, and consumer sectors. Samsung typically makes up 25-35% of the fund — significant exposure, but not all-or-nothing.
Is South Korea in my global ETF already?
It depends. FTSE-based global ETFs (like Vanguard FTSE All-World, VWRL/VWRP) include South Korea at around 1.5%. MSCI-based global ETFs (like iShares Core MSCI World) do NOT — MSCI classifies Korea as an emerging market.
Read our full explainer on this →
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice. The value of investments can go down as well as up, and you may get back less than you invest. Past performance is not a reliable indicator of future results. Always do your own research before making investment decisions. If you’re unsure, consult a qualified financial adviser. Clear Investor may receive a commission from platforms linked in this article at no extra cost to you.
*Fee saving calculation assumes £10,000 invested at 8% annual return over 10 years. Actual results will vary.
Last verified: 11 February 2026