Kiwoom Securities announced on December 16 that it has launched its issued promissory note product. This comes about one month after receiving approval from the Financial Services Commission on November 19.
From the left, Hakgyun Kim, Chairman of the Korea Venture Capital Association, is the first to subscribe to the 'Kiwoom Issued Promissory Note' flexible type and is taking a commemorative photo with Juseong Eom, CEO of Kiwoom Securities. Kiwoom Securities
The 'Kiwoom Issued Promissory Note' is available in two types: a flexible type (with a special promotional pre-tax annual interest rate of 2.45%) and a fixed-term type (with a special promotional pre-tax annual interest rate ranging from 2.45% to 3.45%), both with maturities of up to one year. The minimum subscription amount is 1 million won. The total issuance for this special promotion is approximately 300 billion won.
The first subscriber to the flexible type was Hakgyun Kim, Chairman of the Korea Venture Capital Association, who joined due to his association with Kiwoom Securities, a member company of the association. The first subscriber to the fixed-term type was Seongmoon Song, captain of the Kiwoom Heroes baseball team.
Hakgyun Kim, a symbolic figure in venture investment who has managed venture capital for nearly 30 years, stated, "Venture capital is not just about funding; it is capital that first believes in the potential of people and companies."
He added, "I subscribed as the first customer with the hope that issued promissory notes will become not only a short-term profit product but also a fundamental fuel for national growth," and continued, "I look forward to seeing Kiwoom Securities’ successful know-how, built from its beginnings as a venture company to its growth into a financial group, actively utilized in the management of these promissory notes."
Seongmoon Song, who won the Golden Glove award as a third baseman in professional baseball this year, has become one of Korea’s leading infielders through relentless effort and challenge. He is now preparing for a bigger adventure as he aims to join Major League Baseball in the United States.
Song commented, "Both baseball and investing are ultimately processes of making constant decisions amid uncertainty," and added, "Thinking that this issued promissory note could become a starting point for other young challengers made it even more meaningful to me."
Kiwoom Securities plans to prioritize investor protection in its issued promissory note business by operating a strict internal control system.
The Kiwoom Issued Promissory Note is a product issued based on the credit of Kiwoom Securities. As it is not covered by the Depositor Protection Act, the company clearly advises investors to carefully consider the issuer’s creditworthiness and repayment ability before investing.
Funds raised through the issued promissory notes will be managed strictly within the liquidity management principles set by financial authorities, and will be invested only in sound assets within the policy-allowed scope, such as investments in innovative companies and financial support for small and medium-sized enterprises. The company plans to enhance transparency throughout the entire management process.
A representative from Kiwoom Securities stated, "Funds raised through issued promissory notes will contribute to supplying the growth capital needed for our economy, while maintaining short-term liquidity safety," and added, "We aim to establish ourselves as a trusted comprehensive financial investment company based on a risk management system that prioritizes investor protection."
Detailed information about the product can be found on Kiwoom Securities’ HeroS# (MTS), HeroS (HTS), and the company’s website.
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