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Um Joo-sung, CEO and President of Kiwoom Securities. (Photo courtesy of Kiwoom Securities) |
[Alpha Biz = Reporter Lee Jun-hyun] [Alpha Economy = Reporter Lee Jun-hyun]
Kiwoom Securities CEO Um Joo-sung has exceeded market expectations for two consecutive quarters, making record-high earnings in his first year at the helm increasingly likely.
With expanded overseas stock trading and a strengthened corporate finance (IB) division, the company is projected to surpass ₩1 trillion in annual operating profit for the first time in three years.
According to financial data provider FnGuide on the 25th, Kiwoom Securities' expected operating profit for 2024 is ₩1.1148 trillion, the highest since 2021's ₩1.2089 trillion.
Since his appointment, Um has focused on enhancing the overseas stock trading platform and bolstering IB competitiveness, contributing to both profitability and business diversification.
Kiwoom's overseas stock trading volume surged by 40%, from ₩136.5 trillion in Q1 to ₩191.1 trillion in Q3. Correspondingly, Q3 revenue from overseas stock trading fees reached ₩52.4 billion, a 44.27% increase year-on-year.
The corporate finance division also showed remarkable growth. Kiwoom successfully closed a ₩600 billion bridge loan deal for KT’s Mok-dong property, leading to corporate finance fee income of ₩50.4 billion in Q3, a 104.88% year-on-year increase.
SK Securities predicts Kiwoom Securities will achieve an operating profit of ₩329.8 billion and a net profit of ₩156.4 billion in Q4, marking a turnaround from the ₩275.9 billion operating loss and ₩227.2 billion net loss recorded in the same period last year.
SK Securities researcher Sul Yong-jin noted, “Kiwoom Securities has alleviated concerns about earnings volatility by offsetting the decline in domestic stock trading commissions with robust growth in overseas stock and derivatives trading markets.”
Kim Ji-young, a researcher at Kyobo Securities, added, “The company is maintaining its competitive edge in retail while its corporate finance performance is becoming visible. Enhanced shareholder return policies are also a positive driver for the stock price.”
Kiwoom Securities previously recorded ₩1.2089 trillion in operating profit in 2021 but experienced declines to ₩656.4 billion in 2022 and ₩564.7 billion in 2023. This upward trend under Um’s leadership signals a significant recovery.
Kiwoom Securities CEO Um Joo-sung has exceeded market expectations for two consecutive quarters, making record-high earnings in his first year at the helm increasingly likely.
With expanded overseas stock trading and a strengthened corporate finance (IB) division, the company is projected to surpass ₩1 trillion in annual operating profit for the first time in three years.
According to financial data provider FnGuide on the 25th, Kiwoom Securities' expected operating profit for 2024 is ₩1.1148 trillion, the highest since 2021's ₩1.2089 trillion.
Since his appointment, Um has focused on enhancing the overseas stock trading platform and bolstering IB competitiveness, contributing to both profitability and business diversification.
Kiwoom's overseas stock trading volume surged by 40%, from ₩136.5 trillion in Q1 to ₩191.1 trillion in Q3. Correspondingly, Q3 revenue from overseas stock trading fees reached ₩52.4 billion, a 44.27% increase year-on-year.
The corporate finance division also showed remarkable growth. Kiwoom successfully closed a ₩600 billion bridge loan deal for KT’s Mok-dong property, leading to corporate finance fee income of ₩50.4 billion in Q3, a 104.88% year-on-year increase.
SK Securities predicts Kiwoom Securities will achieve an operating profit of ₩329.8 billion and a net profit of ₩156.4 billion in Q4, marking a turnaround from the ₩275.9 billion operating loss and ₩227.2 billion net loss recorded in the same period last year.
SK Securities researcher Sul Yong-jin noted, “Kiwoom Securities has alleviated concerns about earnings volatility by offsetting the decline in domestic stock trading commissions with robust growth in overseas stock and derivatives trading markets.”
Kim Ji-young, a researcher at Kyobo Securities, added, “The company is maintaining its competitive edge in retail while its corporate finance performance is becoming visible. Enhanced shareholder return policies are also a positive driver for the stock price.”
Kiwoom Securities previously recorded ₩1.2089 trillion in operating profit in 2021 but experienced declines to ₩656.4 billion in 2022 and ₩564.7 billion in 2023. This upward trend under Um’s leadership signals a significant recovery.
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