As the Financial Supervisory Service moved to pressure securities firms over their overseas stock business, the U.S. stock channel of Kiwoom Securities, which ranks No. 1 by subscribers among brokerage Telegram channels, is set to shut down.
According to the financial investment industry on the 23rd, the Telegram channel "Kiwoom Securities U.S. Stocks TalkTalk," operated by Kiwoom Securities, will be closed soon.
Through a notice, the channel said, "To provide better service, the U.S. Stocks TalkTalk channel service will be temporarily suspended," adding, "When the service resumes, we will provide guidance through a separate notice." The end date was announced as the 26th.
The channel has been in operation since it was launched in September 2018. In particular, it provides information related to U.S. stocks and is followed by many Korean retail investors trading U.S. stocks. As of the day, the channel has 36,864 subscribers. According to Telegram channel analytics service Telemoa, as of the 22nd, this channel ranks No. 1 among Telegram channels operated by securities firms.
Earlier, the Financial Supervisory Service put the brakes on brokerages' overseas stock marketing. On the 19th, the Financial Supervisory Service released materials on the "interim results of the inspection of the status of overseas investment and future response direction," and said it conducted on-site inspections of six top securities firms by overseas investment transaction volume and two top managers of overseas stock funds.
It also halted cash-style events and advertisements related to overseas investment by securities firms through March next year. It further issued guidance not to excessively reflect related key performance indicators (KPI) in next year's business plans.