KSD Returns 7.9 Billion Won in Dormant Stocks and Dividends to Owners

[Asia Economy Reporter Lee Seon-ae] Korea Securities Depository announced on the 16th that it conducted the 'Unclaimed Stocks Recovery Campaign' to restore investors' property rights and promote the electronic securities system. Since the 1st of last month, the Depository has individually notified shareholders who had forgotten their stock ownership over a period of six weeks to restore shareholders' rights and assets.

The financial assets recovered through this campaign amount to a total of 7.9 billion KRW, including 6.67 million unclaimed shares (valued at 4.6 billion KRW) and 480,000 shares converted to electronic securities (valued at 3.3 billion KRW). The valuation was based on the closing price of listed stocks on the day before the receipt date and the face value for unlisted stocks (including lost stock certificate accident reports).

Alongside the Unclaimed Stocks Recovery Campaign, a physical stock to electronic securities conversion campaign was conducted, attracting various shareholders ranging from those holding old stock certificates to those who lost their certificates. Considering shareholders' age groups and the return of physical stocks, the campaign was carried out through Korea Securities Depository counters located nationwide (Seoul, Daejeon, Daegu, Gwangju, Jeonju, Busan).

Recovery of unclaimed stocks and conversion of physical stocks to electronic securities can be processed anytime by visiting the counters, even outside the campaign period. Currently, unclaimed stock recovery services are only available through in-person visits to the counters. Plans are underway to improve the system to allow small shareholders to claim their stocks via the website in the future.

A representative from the Korea Securities Depository stated, "We are continuously striving to recover dormant investment assets," and added, "We plan to develop a non-face-to-face small shareholder stock recovery service to provide to shareholders."

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