Kiwoom Securities has decided to invest an additional 30 billion won in its information technology (IT) business this year to enhance transaction stability. This is to prevent the order delays that occurred in April of this year from happening again.
Kiwoom Securities announced on the 4th its plan titled "Measures to Enhance IT Stability." The company will invest 30 billion won in IT, separate from the approximately 100 billion won it spends annually on IT expenses.
Kiwoom Securities will also expand its IT personnel and organization. It plans to establish a dedicated organization for IT internal control and support for IT performance analysis and validation, and will hire its own IT staff.
Additionally, it has decided to build a new ledger system that can be expanded in response to increased transaction volumes. The ledger system is considered a core infrastructure for financial institutions to record and manage customers' accounts and transaction histories. Kiwoom Securities expects that by preparing a new ledger system, it will be able to respond flexibly to a surge in transaction volumes and improve stability.
In addition, it plans to enhance the "validation environment," which can test newly developed features made to closely resemble actual system operating conditions, and conduct IT consulting. It also plans to strengthen the integrated security control system by applying the latest security technologies.
A Kiwoom Securities official noted, "With this large-scale IT investment, we expect to dramatically improve system stability so that customers can conduct transactions more reliably."