Kiwoom Securities signed a strategic partnership with U.S. online brokerage platform Webull to promote foreign omnibus accounts.
Kiwoom Securities said on the 13th that the two companies signed an agreement on the 12th (local time) to improve overseas investors' access to Korean stock investing. The signing ceremony was attended by Lee Yoon-gu, head of Kiwoom Securities USA, and Jack Keating, CEO of Webull Technologies.
With this collaboration, overseas investors will be able to trade Korean stocks in real time on the Webull platform without opening a separate account at a domestic securities firm. The two companies plan to use this to expand inflows of global funds and provide a more convenient investing environment for retail investors in both countries.
Kiwoom Securities also plans to use this partnership as a springboard to strengthen its customers' access to the U.S. capital market.
Eom Ju-sung, head of Kiwoom Securities, said, "We have been steadily expanding touchpoints with U.S. investors, starting with the establishment of a local entity in the United States," and added, "We will continue to strengthen strategic partnerships to attract global funds to the Korean stock market and revitalize the capital market."
Meanwhile, Webull is a global digital investing platform that provides financial services in 14 markets worldwide and had about 25 million customers as of the end of last year.