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Photo = Korea Investment & Securities |
[Alpha Biz= Kim Jisun] Korea Investment & Securities has corrected its business reports for the past five years (2019–2023) after discovering that internal transactions between its foreign exchange (FX) and retail divisions were mistakenly recognized as revenue, leading to an overstatement of approximately 6 trillion KRW in operating income.
According to the Financial Supervisory Service's electronic disclosure system on Tuesday, the company revised its reported operating income and expenses for the period from 2019 to 2023 to rectify accounting errors related to foreign exchange transactions.
As a result of the corrections, the cumulative operating income for the period decreased by approximately 5.7 trillion KRW from previous reports.
On a standalone financial statement basis, the revised figures for each year are as follows:
2019: 9.92 trillion KRW → 9.68 trillion KRW
2020: 15.2 trillion KRW → 14.56 trillion KRW
2021: 12.18 trillion KRW → 11.61 trillion KRW
2022: 22.90 trillion KRW → 20.81 trillion KRW
2023: 22.08 trillion KRW → 19.90 trillion KRW
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
