🔥 Kiwoom Securities: The Remaining Variables After Retirement Pension Assets Surpass 200 Billion - 2026.11.02

Well, well~ Onion’s here! The most welcome news in the Kiwoom Securities arena today is about retirement pensions. I’ve watched the market for 30 years for a reason—I can’t just brush off numbers like these. 📈

Retirement pension assets surpass 200 billion—now that’s something!

Kiwoom Securities launched its retirement pension business in June this year, and in about five months, its assets surpassed 200,000,000,000 KRW ^[3]. It’s also notable that it continued to grow while total retirement pension assets across the securities industry declined in the third quarter ^[1]. Isn’t that something the market should applaud~! 👏 The key point is that 75% of individual retirement pension (IRP) assets came from other firms ^[2]. In other words, most of the money didn’t come from new funds entering new accounts—it was transferred from existing accounts elsewhere.

What does transferred money mean?

Bringing money over from another firm also suggests customers had a reason to move. But this is Onion’s interpretation. The articles didn’t say why they transferred. What’s confirmed so far is the size of the assets and the share of IRP inflows; whether the transferred funds will stay put going forward remains an open question ^[2]. Still, it’s clear that Kiwoom continues to grow, particularly in IRP assets ^[3]. If this is the result in its first round, doesn’t that make you curious about the next one? 🧅

A shorter settlement cycle—the sound of the game changing

You’ve heard that when you sell shares, you can get your money the next day, right? A direction to shorten the stock settlement cycle from 2028 has been proposed ^[5], and plans call for pursuing a reduction of the securities settlement cycle to T+1 starting the year after next, with the goal of moving faster than major economies ^[4]. Following Mirae Asset Securities, Kiwoom Securities is also set to launch a related product on the 20th of this month ^[5]. Now, that’s not something to take lightly. The approach involves Korea Securities Finance supplying funds to securities firms to lower lending rates, but the articles mention several possible arrangements for the specific rates, so I’ll stick to the overall direction here. Just remember that rates are headed down ^[5].

Views in the securities industry are mixed

Assessments of earnings are somewhat divided. Some say third-quarter results were weak but held up relatively well, while others point to the appeal of tax-exempt dividends ^[7]. On the other hand, according to a Bizwatch report, earnings expectations have been lowered and the target price has also been revised down ^[6]. These are views reported by securities firms and the media, respectively—not anything the company has confirmed, nor something Onion should declare a verdict on. There are analysts making forecasts; verifying their rationale is the next step. The closing price was ₩206,000, with trading volume at 137,288. After recording -8.46% on October 30, the trend still looks choppy 📉

Onion thinks the flow of funds could fuel a bullish scenario. But three variables remain: whether the transferred funds will stay, how the market will respond to the product on the 20th, and how the conflicting outlooks will be borne out in the earnings. The earnings question in particular should be answered in the next report. Whether that will translate into the share price remains an open question. What do you think—interesting, right? 🚀

📰 Reference News (7)

1

Kiwoom Securities retirement pension assets surpass 200 billion... 75% of IRP assets transferred from other firms

네이버뉴스 · 2026.11.02

📰 View original

3

[Securities Roundup] Kiwoom Securities: “Retirement pension assets surpassed 200,000,000,000 KRW in just 5 months” - Good Morning Economy

네이버뉴스 · 2026.11.02

📰 View original

4

Securities settlement cycle to be shortened to T+1 the year after next… Faster transition than major economies planned (Updated)

네이버뉴스 · 2026.11.02

📰 View original

5

“Sell shares, get the money the next day”… Stock settlement to be shortened from 2028

네이버뉴스 · 2026.11.02

📰 View original