Hanwha Investment & Securities said on the 26th that it has launched the first 'stock loan transfer' service in the financial investment industry.
This service is characterized by allowing customers to easily transfer high-interest stock-backed loans to Hanwha Investment & Securities without repaying existing loans or selling their held stocks.
Until now, when transferring loans, existing stocks were not recognized as collateral, which occasionally harmed customer portfolios. However, this service utilizes MyData, enabling customers to check their loan eligibility in advance, thus preventing unnecessary losses, according to Hanwha Investment & Securities.
Meanwhile, since this service involves transferring the collateral stocks of existing loans, customers must complete the stock transfer on the same day they repay the loan at the counterpart securities firm.
Additionally, if the stock trading day is the same as the day of application for transfer, the transfer may not be possible due to incomplete payment; therefore, customers must confirm the completion of stock payment.