Kiwoom Securities Designated as Comprehensive Financial Investment Business Operator
The 9th Comprehensive Securities Investment Business Entity Among Domestic Securities Firms
[Asia Economy Reporter Hwang Yoon-joo] Kiwoom Securities has become the ninth comprehensive financial investment business operator (CFIBO) among domestic securities firms.
Kiwoom Securities announced on the 2nd that it received CFIBO designation from the Financial Services Commission. With the CFIBO designation, the credit extension limit that can be utilized is expanded to within 200% of its own capital, and corporate credit extension operations become possible.
As a CFIBO operator, Kiwoom Securities plans to expand its business areas and establish a foundation for operations available according to capital size. Gradually, starting with M&A acquisition financing and SME loans, it plans to broaden its role as an investment bank that comprehensively provides funding needs and advisory services throughout the corporate growth process.
To this end, it aims to secure business continuity by enhancing risk management systems, such as strengthening corporate loan screening capabilities, in preparation for the expanded business scale and operations.
Following the CFIBO designation, Kiwoom Securities is preparing to leap forward as a super-large investment bank (super-large IB). As of the end of 2021, its standalone capital was 3.8 trillion KRW, and it is expected to meet the qualification requirement of 4 trillion KRW in capital within the year. To ensure the successful establishment of the super-large IB, a dedicated organization will be newly established for systematic preparation.
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Hwang Hyun-soon, CEO of Kiwoom Securities, said, "With the designation as a comprehensive financial investment business operator, the IB business division will expand, and the company's revenue model will grow in a balanced manner." He added, "Amid rapid changes in the industrial structure, we will become a partner that leads corporate growth together by providing venture capital, improving corporate financial structures, and supporting M&A acquisition financing and advisory services."
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