Kiwoom Securities, which experienced stock order system errors for two consecutive days, will suspend all services over the upcoming weekend and conduct a comprehensive re-evaluation of its system. Kiwoom Securities explained that this measure is a proactive response to prevent customer complaints and a decline in trust regarding system instability.
On the 4th, Kiwoom Securities announced that it would suspend all services, including the home trading system (HTS), mobile trading system (MTS), and website, from 10 a.m. on the 5th to 8 p.m. on the 6th. Consequently, electronic financial transactions such as deposits and withdrawals, account openings, non-face-to-face services, and margin confirmation will all be restricted during this period.
This inspection is in response to the order delay that occurred on the 3rd and 4th. From 9:05 a.m. on the 3rd, there was a delay in stock order execution on HTS and MTS for about an hour, and the same problem reoccurred immediately after the market opened the next day, the 4th. Notably, on the 4th, a surge in orders right after the impeachment ruling of former President Yoon Suk-yeol caused the system to collapse once again.
Kiwoom Securities explained that the phenomenon was due to a "server crash caused by a surge in orders," but it has been pointed out that on that day, the transaction volume was lower than during past major issues, with 14.3 trillion won on the 3rd and 18 trillion won on the 4th, raising concerns about structural problems within the system itself.
As of now, the exact cause of the disruption has not been identified, and Kiwoom Securities intends to normalize its system by the opening of the stock market on the 7th after a thorough review and improvement works over the weekend. The company stated, "We ask for your understanding for our efforts to provide better services."