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Photo courtesy of Kiwoom Securities |
[Alpha Biz= Paul Lee] Kiwoom Securities, which operates the largest Telegram information channel among Korean brokerage firms, has announced the suspension of its Telegram service, prompting speculation that the move reflects increased regulatory pressure on overseas investment marketing.
On December 23, Kiwoom Securities U.S. Stocks TokTok, the firm’s U.S. equities Telegram channel, stated that the service would be temporarily suspended “to provide better service,” adding that a separate notice would be issued when operations resume. The channel has approximately 36,900 subscribers, the largest among brokerage-run Telegram channels in Korea.
Industry observers link the suspension to recent guidance from financial authorities, which have urged brokerages to curb overseas investment marketing amid concerns that retail investors’ foreign investments have contributed to the weak won.
The Financial Supervisory Service (FSS) has recently begun on-site inspections of major securities firms and asset managers with large volumes of high-risk overseas products. Authorities are also reported to have instructed the industry, via the Korea Financial Investment Association, to halt new overseas investment marketing efforts.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
