Samsung Securities "Exchange Travel and Study Abroad Funds on 'mPOP'"

Approval Obtained for General Currency Exchange Business
Service to Launch Within the Year

From now on, Samsung Securities' mobile trading service (MTS) 'mPOP' will also allow immediate currency exchange. This means that not only securities investment but also general currency exchange services for purposes such as travel or studying abroad can be handled.

Samsung Securities announced on the 14th that it has received approval for general currency exchange from the Ministry of Economy and Finance.

Since the Ministry of Economy and Finance established new foreign exchange transaction regulations in July 2023 allowing securities companies (comprehensive financial investment business operators) to conduct general currency exchange services for individual and corporate customers, securities companies have been applying for and obtaining approval for general currency exchange services since last year.

Certain requirements for general currency exchange services include the establishment of internal control organizations and roles related to currency exchange operations, the status of computer systems for telegraphic currency exchange, and the preparation of procedures to ensure compliance with regulations.

Samsung Securities plans to launch the currency exchange service within this year. By using this service, customers will be able to handle currency exchange for securities investment as well as for travel and study abroad expenses. Services for corporate customers as well as individual investors are also being prepared.

A Samsung Securities representative stated, "We are preparing customer preference surveys to provide Samsung Securities' competitive services within this year," and added, "We will gradually launch currency exchange and foreign exchange services that leverage the strengths of securities companies, targeting corporate and institutional customers."

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