[Click eStock] "Kiwoom Securities is Most Advantageous for Token Securities Business"

[Asia Economy Reporter Yoonju Hwang] NH Investment & Securities evaluated Kiwoom Securities on the 7th as the most favorable operator for token securities business. The investment opinion 'Buy' and the target price of 120,000 KRW were maintained.

Yoon Yudong, a researcher at NH Investment & Securities, stated, "In the mid to long term, Kiwoom Securities will prominently benefit from the growth of the token securities issuance (STO) market," adding, "This is because it has the largest number of individual customers based on the powerful retail platform called Youngwoongmun." Kiwoom Securities has already started collaboration with the blockchain industry two years ago.

Researcher Yoon analyzed, "When token securities trading begins, the competitiveness of the Kiwoom Securities platform (MTS) will be highlighted," and "Due to the initial market characteristics where the differentiation of offered products is not significant, the more attractive the platform is, the more advantageous it is to secure customers."

He judged that the early-stage overseas stock market situation will similarly apply to the STO market. At that time, several securities firms tried to attract customers through events, but most did not experience significant outflow from their existing MTS users. Thanks to this, Kiwoom Securities' overseas stock market share is first place domestically as well (in the 30% range), showing a clear difference from the second and third places (in the 10% range).

Kiwoom Securities launched a new integrated MTS app called 'YoungwoongmunS#' in August last year by integrating existing applications. This is interpreted as an effort to enhance trading convenience and investor usage through a one-app system. Researcher Yoon predicted, "The market dominance effect through economies of scale will gradually become more prominent."

Kiwoom Securities has been collaborating with blockchain companies in various fields for two years. It is also cooperating with leading companies in each sector such as Musicow, Tessa, Casa, and Funble, which are fractional investment firms in music, artwork, real estate, and more. Investments are currently underway to form STO infrastructure.

Researcher Yoon assessed, "In the early stages, Kiwoom Securities' role is expected to focus on providing token securities trading services and account management," and added, "Being an online-based securities firm from the start, there will be no significant difficulties in applying the technology."