Kiwoom Securities, 500to enter the trillion-won retirement pension market next month
Kiwoom Securities will launch its online-based retirement pension business next month. It announced a first-year fee of 0 won and said it would highlight the introduction of foreign-currency products, 10aiming for a securities-sector market share of 10% within years.
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Kiwoom Securities announced that it will launch its retirement pension business next month. The company is entering the market with an online investment-oriented pension platform. The target market is worth around 500 trillion won.
Kiwoom Securities' platform is designed to focus on investment products. It has set first-year fees at 0 won. It plans to introduce foreign-currency products into pension offerings for the first time.
The company cited its branchless structure as a competitive advantage. It said it has built up strengths in its online platform and information technology. Platform operations and customer acquisition will be conducted primarily through online channels.
Kiwoom Securities 10said it aims to reach a market share of within years in the securities industry, 10and plans to expand its platform and pursue partnerships to achieve that goal. It said it plans to disclose specific market-share plans at a later date.
BNK Busan Bank held a seminar for practitioners at companies that conduct retirement pension transactions. It said the seminar shared labor-management and asset-management strategies. The event was intended to strengthen the provision of information and communication with corporate clients.
Separately, the head of a solar power company 911in connection with a false loan worth billion won 1was sentenced by the court to imprisonment for 10years. The case was heard on charges of financial fraud. The court ruling could affect the companies involved and related stocks.