Kiwoom Securities Reports Record High Operating Profit of 954.9 Billion KRW Last Year

[Asia Economy Reporter Ji-hwan Park] Kiwoom Securities posted an operating profit of 954.9 billion KRW last year, marking an all-time high. The capital efficiency indicator ROE (Return on Equity) also reached an industry-leading level of 27.4%.

Kiwoom Securities announced on the 15th that its consolidated operating profit increased by 101.6% year-on-year to 954.9 billion KRW. Net profit for the period recorded 693.9 billion KRW, up 91.3%. Since the second quarter of last year, Kiwoom Securities has been setting new records for quarterly performance every quarter.

The main contributor to this record-breaking performance is the retail division. Last year, Kiwoom Securities opened a total of 3.33 million new accounts, a surge of 389.6% compared to 680,000 accounts the previous year. Notably, 56.7% of the new accounts were held by individuals aged 30 or younger, which is evaluated to have improved the long-term customer base and diversified the investor age group.

The total brokerage net operating income from stocks reached 379.3 billion KRW, a 290.6% increase from 97.1 billion KRW the previous year. Based on this, the retail division’s total net operating income recorded 720.6 billion KRW, up 115.8% year-on-year.

In the Investment Banking (IB) division, net operating income reached 171.6 billion KRW, a 34% increase year-on-year, driven by steady growth in corporate bond underwriting and real estate financing. Kiwoom Securities explained that they achieved diversification of the revenue base within the IB division through various alternative investment asset acquisitions and successful asset sales.

In the wholesale division, net operating income rose 71.5% year-on-year to 102.1 billion KRW, supported by stock and bond brokerage services for corporations as well as performance in the over-the-counter derivatives sector. The investment management division’s net operating income increased 86.1% year-on-year to 108.1 billion KRW.

A Kiwoom Securities official stated, "We achieved the highest record since our founding based on the remarkable growth of the retail division and balanced growth across all business sectors," adding, "In the mid to long term, we plan to expand beyond a brokerage service-centered business model to become a financial investment platform company combined with asset management."

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