Hyundai Motor Securities Sees Surge in Non-Face-to-Face Account Openings..."10-Fold Increase Every Year Since 2019"

[Asia Economy Reporter Ji-hwan Park] The number of non-face-to-face account openings at Hyundai Motor Securities has recently surged. This is interpreted as a result of the preference for non-face-to-face transactions combined with Hyundai Motor Securities' efforts in digital transformation, leading to active non-face-to-face trading.

According to Hyundai Motor Securities on the 2nd, as of the end of August, the number of non-face-to-face account openings at Hyundai Motor Securities increased more than tenfold compared to the end of last year. Compared to the end of 2019, before the full-scale digital transformation began, the figure increased more than 100 times.

In particular, the ratio of non-face-to-face accounts among new accounts reached 80%. The proportion of non-face-to-face customers among new account openings at Hyundai Motor Securities surged from 8.2% in 2019, 39.2% in 2020, to 79.9% at the end of August this year, based on the number of accounts.

Looking at non-face-to-face new account investors by age group, they are evenly distributed among those in their 20s (16%), 30s (23%), 40s (27%), and 50s (21%).

Since the inauguration of President Byung-chul Choi last year, Hyundai Motor Securities has recognized digital transformation as a matter of survival beyond growth and has accelerated its digital transformation efforts. Last year, they renewed ‘The H Mobile’ with the motto of an MTS that anyone can easily use, and are carrying out a phased digital transformation plan focusing on convenience services for financial platforms.

Kwon Ji-hong, Executive Director of Hyundai Motor Securities Retail Business Division, said, "Recently, the increasing non-face-to-face customers are showing a trend of evolving beyond simple online stock trading to digital asset management," adding, "We will continuously strive to expand various non-face-to-face products and new services to enhance convenience in order to improve customers' financial accessibility."

To continuously expand financial platform services, Hyundai Motor Securities is currently developing two applications (apps). The new MTS, scheduled for release next year, will include gamification elements to make stock trading easier and more enjoyable, in addition to linking various services. The MyData service, currently preparing for official approval, will also be launched as a separate app. Both apps will be developed with simple and intuitive interfaces different from the existing MTS.

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