Order Surge Causes Shinhan Investment Corp Server Failure... 10 Billion Won Scale Order Error

Order Delays Occurred in Over 3,000 Accounts with More Than 5,700 Cases
"We Will Contact Customers to Assess Damage and Provide Compensation"

[Asia Economy Reporter Minwoo Lee] Shinhan Financial Investment experienced a system failure that caused an order error amounting to approximately 10 billion KRW.

According to industry sources on the 22nd, an error occurred the previous morning in Shinhan Financial Investment's Mobile Trading System (MTS), causing delays in order processing. Orders were not executed in the morning but began to be executed around 2 PM.

The next day, upon recognizing the error, Shinhan Financial Investment immediately inspected their network system. As a result, it was found that over 5,700 orders from about 3,000 accounts were delayed. The total value of the delayed orders was approximately 10 billion KRW.

The industry believes this error was due to a surge in investor orders. On the previous day, the KOSPI index on the Korea Stock Exchange closed above 2,000 for the first time since March 6, attracting many investors and causing a load on the securities firm's servers. Earlier in March, similar errors occurred in MTS platforms of NH Investment & Securities and Kiwoom Securities as individual investors' enthusiasm for stock investment increased.

Shinhan Financial Investment is currently contacting affected customers to accurately assess the extent of the damage. A Shinhan Financial Investment representative stated, "Some orders were executed at prices lower than the market price at the time, while others were executed at higher prices, so some customers incurred losses while others gained profits. We will determine the exact scale and compensate affected customers according to regulations."

This content was produced with the assistance of AI translation services.