Samsung Securities(016360) became the eighth among securities firms to obtain a short-term finance business license, enabling it to enter the commercial paper business.
The Financial Services Commission said on the 9th that at a regular meeting it reviewed and approved a short-term finance business license for Samsung Securities.
Commercial paper is a short-term financial product issued by a securities firm based on its own credit. Large securities firms with paid-in capital of 4 trillion won or more can handle it with approval from financial authorities.
About 25% of the funds raised through commercial paper must be invested in venture and innovative corporations—so-called risk capital—by 2028.
With this license, Samsung Securities became the eighth commercial paper provider, following Mirae Asset Securities, Korea Investment & Securities Co., NH Investment & Securities, KB Securities, Kiwoom Securities, Shinhan Investment & Securities, and Hana Securities.
A Samsung Securities official said, "We appreciate the commercial paper license," and added, "We will prepare related products well to offer customers a range of choices and work to contribute to the supply of risk capital to domestic industry."