iM Securities Announces High-Intensity Restructuring... Including Branch Reduction and Voluntary Retirement

Sales Down 25.5% Due to Real Estate PF Insolvency
Recorded 81.4 Billion KRW Net Loss in First Half
Plan to Restructure Organization Through Store Reduction and Voluntary Retirement

iM Securities has announced a high-intensity restructuring plan, including branch closures and voluntary retirement, to improve its management situation. On the 4th, according to the financial investment industry, iM Securities made a 'Strategy Announcement for Survival and Competitiveness Enhancement' through the company bulletin board.

The post emphasized the need to enhance efficiency and growth potential to overcome management crises such as non-performing real estate project financing (PF), and it is known that business structure and organizational restructuring plans, such as branch reductions and voluntary retirement, were also mentioned.

In the first half of this year, iM Securities reported consolidated sales of 1.1049 trillion won, a 25.5% decrease compared to the same period last year, and recorded a net loss of 81.4 billion won, turning to a deficit. This loss was due to the need to set aside a substantial amount of provisions amid concerns over non-performing real estate PF. In particular, iM Securities additionally set aside 36.5 billion won in the first quarter and 150.9 billion won in the second quarter of this year.

In this situation, iM Securities is exploring various measures to improve management efficiency and strengthen market competitiveness going forward.