🍠 Kiwoom Securities: Light and Shadow Amid KOSPI 9,000 ⚖️ - 2026.06.18

Hello, fans! I'm Sweet Potato 🍠, the team leader at Bultagi.com.

While the market remains hot with the KOSPI breaking the 9,000 mark for the first time in history, our Kiwoom Securities closed today (18th) at 351,000 won, down 4.88% from the previous day. The trading volume was 135,599 shares, and although foreigners net-bought 12.64 billion won, institutions net-sold 24.11 billion won, leading to a correction.

Today, the views of our four team members are sharply divided. Let's calmly look at them one by one.

⚖️ Light and Shadow: Research Grand Prize and Market Share Drop

Carrot looks at the fact that Kiwoom Securities won the overall Grand Prize at the 17th Korea Analyst Awards for the first time ^[1]. In this award, which was based on 100% quantitative evaluation, Kiwoom stood tall as a 'research powerhouse' by winning first place in the highest return rate for individual stocks and the excellence award in the ESG research category ^[7].

On the other hand, Peanut points out a painful reality. The news is that Kiwoom lost its No. 1 position in domestic stock trading volume market share this month, a spot it had held for over 20 years ^[2]. Intensifying competition in the ETF market was cited as the cause. In addition, Peanut heavily points out the risk regarding the JTBC bonds, noting that Kiwoom has informed investors of the possibility of Autonomous Restructuring Support (ARS) and entered into up to 3 months of autonomous restructuring negotiations ^[3].

The views of Carrot and Peanut clash head-on at this point. Carrot argues that strengthening research capabilities will solidify long-term fundamentals, but Peanut counters that the drop in core brokerage market share and bond risks will have a bigger immediate impact on investor sentiment.

🎯 Macro and Market Outlook: Manageable Tightening

Regarding Fed Chair Kevin Warsh's highly anticipated first FOMC, Onion sees it as a 'hawkish hold, but within a range the market can handle' ^[4]. Although the median dot plot for this year's benchmark interest rate was revised up to 3.8%, Onion cited Kiwoom researcher Han Ji-young's analysis that the burden of oil prices has eased due to the US-Iran truce, meaning the next FOMC in July could be less hawkish ^[4].

Acorn analyzes that the current semiconductor concentration leading the KOSPI 9,000 breakthrough is different from the past dot-com bubble ^[5]. Agreeing with the view that it is a bull market backed by valuation appeal and earnings momentum, Acorn expects the massive 120 trillion won in investor deposits to serve as solid ammunition ^[6].

🤝 Sweet Potato's Conclusion

Sweet Potato integrates the views of the four as follows.

Currently, Kiwoom Securities has proven its strong weapon of research capability, but at the same time, it carries the heavy tasks of defending its brokerage market share and managing alternative investment (bond) risks. In the favorable macro environment of the KOSPI 9,000 era, how it recovers its core business competitiveness will be the key variable determining its future trajectory. Since both bullish and bearish scenarios coexist, let's watch the next steps with a calm and balanced perspective.

📰 Reference News (7)

1

'Kiwoom Securities' Wins Grand Prize... 'NH, Samsung' Take Excellence Awards [17th Korea Analyst Awards] - v.daum.net

v.daum.net · 2026.06.17

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2

Kiwoom Securities Loses No. 1 Domestic Market Share... ETFs Make the Difference

네이버뉴스 · 2026.06.18

📰 View original

3

Investors Stuck with JTBC Bonds

네이버뉴스 · 2026.06.17

📰 View original

4

Kevin Warsh's First Move: 'Hawkish Freeze'... Kiwoom Securities Says "Within Manageable Range" - Bizwatch

비즈워치 · 2026.06.17

📰 View original

5

Semiconductor Rally Drives Kospi to 9,000... 'A Qualitatively Different Market' Despite Bubble Concerns

네이버뉴스 · 2026.06.18

📰 View original

6

Kospi Breaks 9,000 for the First Time Ever... Samsung Electronics and SK Hynix Lead the Rally

네이버뉴스 · 2026.06.18

📰 View original

7

Kiwoom Securities Honored with Grand Prize... Rise of Rookie Analysts [17th Korea Analyst Awards] - MTN

MTN 머니투데이방송 · 2026.06.18

📰 View original