Kiwoom Securities, 3Q Operating Profit 179.2 Billion KRW... 44.1% Decrease YoY

[Asia Economy Reporter Hwang Yoon-joo] Kiwoom Securities recorded poor performance in the third quarter amid a high-intensity tightening stance and extreme market volatility.

Kiwoom Securities announced on the 15th that its consolidated operating profit for the third quarter this year was 179.2 billion KRW, a 44.1% decrease compared to the same period last year. Net profit also sharply declined by 46.8%, recording 124.1 billion KRW.

Regarding the third-quarter results, Kiwoom Securities self-assessed that it "achieved favorable results despite the difficult market environment." According to its own compiled data, Kiwoom Securities ranked first in domestic stock market share for 17 consecutive years. In the third quarter, it recorded approximately 19% of the total domestic stock market share and about 29% of the individual investor share, while its overseas stock market share rose significantly to around 38%. Additionally, in overseas derivatives, commission income increased by more than 16% compared to the previous year, maintaining a super-gap level beyond competitors.

Strengthening risk management also played a part. Judging risk management as core, Kiwoom proactively reinforced investment and real estate screening, focusing on risk management tasks. Following the comprehensive financial investment business operator license in the first half of this year, it is preparing to leap into a super-large IB by fulfilling 4 trillion KRW in equity capital within the year.

Kiwoom Securities stated, "Despite the ongoing market crisis and unfavorable environment, we reduced the scale of operational losses and maintained real estate-related risk exposure at a significantly lower level compared to competitors," adding, "Despite the decrease in domestic stock market trading volume, we diversified our business portfolio and revenue structure within the retail sector based on the increased proportion of overseas stock and overseas derivatives trading."

Meanwhile, Kiwoom Securities is also actively exploring new business models. It is strengthening its identity as a digital financial platform by linking technology and platform businesses. Recently, through business agreements with Musicow, Tessa, and Funble, it is preparing to expand into new financial areas such as fractional investment and STO. The strategy is to enhance efficiency and maximize synergy through a platform combined with asset management that offers new alternative investment products.