Kiwoom Securities is reportedly seeking to acquire Shinhan Investment & Securities' U.S. subsidiary. The move is seen as an effort to expand its overseas stock brokerage (entrusted trading) business.
On the 15th, according to the industry, Kiwoom Securities is pursuing the acquisition of Shinhan Investment & Securities' U.S. subsidiary. It is reported to be negotiating the acquisition price with Shinhan Investment & Securities. The U.S. unit of Shinhan Investment & Securities holds a broker license that allows it to intermediate local stocks, and with this license, it can directly broker U.S. stock orders.
A Kiwoom Securities official said, "We have already set up a local entity, and there is a way to obtain the license through this entity, and there is a way to acquire a local entity that already has the license," adding, "We are weighing those two options, and for now we are preparing on two tracks." Kiwoom Securities established "Kiwoom Securities Holdings USA Inc" and "Kiwoom Securities USA Inc" in the first half of this year.