Korea Post Securities, Korea Securities Finance, and Fount Sign MOU to Establish Digital Finance Cooperation System

[Asia Economy Reporter Hwang Yoon-joo] Korea Post Securities announced on the 21st that it has signed a strategic business agreement (MOU) to establish a cooperative system with Korea Securities Finance and Fount.

Through this business agreement, the three companies will form a Digital Finance Cooperation Committee. The formed cooperation committee will seek to create synergy by leveraging each company's strengths. The top priority goal is to strengthen Korea Post Securities' digital finance competitiveness.

Kim Wook-jung, CEO of Korea Post Securities, was appointed as the chairman, and inside directors from Securities Finance and Fount were appointed as committee members. Additionally, to facilitate smooth communication and support for the committee's work, a Digital Cooperation Secretariat will be established with full-time staff assigned.

Fount, founded in 2015, is a leading robo-advisor asset management company. Last month, it signed a new share subscription agreement with Korea Post Securities and plans to invest 20 billion KRW to become the second largest shareholder once government approval procedures are completed.

Meanwhile, since Korea Securities Finance acquired Korea Post Securities as a subsidiary in December 2018, Korea Post Securities has launched individual retirement pension (IRP) and affiliated loan products. The scale of customer assets increased by 245%, from 1.2 trillion KRW at the end of 2018 to 4.0 trillion KRW at the end of 2021. In the first half of this year, it plans to complete the establishment of an ETF trading system to broaden the range of product choices.

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