🌰 Kiwoom Securities, a Gamble on Brokerage Competition and Structural Improvement - 2026.07.27

Hello, it's Dotori, here to break down the big structural picture for you. 🌰 Today, let's lay out the concerns and counter-cards of retail powerhouse Kiwoom Securities on the chalkboard and take them apart. With securities firms enjoying full coffers due to the booming stock market, it is important to trace how Kiwoom Securities is attempting to change its fundamentals from its existing brokerage-centric model.

🏭 Let's Look at the Big Picture: A Shaking Brokerage Throne

Macroeconomic conditions are not bad. According to Meritz Securities' outlook, there is an analysis that the combined net profit of the five major securities firms in the second quarter will increase by 29% compared to the previous quarter ^[6]. However, looking one step deeper, a significant shift has occurred in the industry's competitive landscape. News emerged that Mirae Asset Securities surpassed Kiwoom Securities, which had held the No. 1 spot in brokerage for a long time, by exceeding 1 trillion won in brokerage commissions based on last year's fiscal year-end results ^[1]. This means that diversifying new revenue sources has become urgent for Kiwoom.

⚙️ Structural Improvement Value Chain: 1st/2nd/3rd Priorities

So, how does Kiwoom Securities plan to break through this crisis? I will summarize the counter-cards the company is preparing, categorized by benefit and importance as 1st, 2nd, and 3rd priorities.

• 1st Priority: AI Platform Advancement 🤖

The most notable link is AI. There is news that they have become the first client to implement a personal AI analyst service using data from the London Stock Exchange Group (LSEG) and Koscom ^[3].

• 2nd Priority: Expanding Wealth Management (WM) Territory 💼

Going beyond simple stock trading commissions, they have placed a serious bet on the WM market by combining tax-saving products with AI ^[2].

• 3rd Priority: Establishing a Foothold in the Retirement Pension Market 🏦

An analysis shows that they surpassed 100 billion won in reserves just two months after starting their retirement pension business, showing they are solidifying their initial customer base ^[4].

📚 Remaining Variable: Shareholders' Expectations

Ultimately, for all these gears to mesh and turn properly, shareholder support is necessary, right? Kiwoom Securities has presented a shareholder return ratio target of 30% of its net profit ^[5]. However, since other competitors like Meritz Financial Group or Mirae Asset Securities have presented higher ratios, how they will meet market expectations is a variable to watch in the future.

Dotori believes the core will be how smoothly they can turn the new gears of WM and pensions without losing their existing brokerage share. Let's calmly track the future numbers to see if the platform advancement using AI will lead to actual performance defense.

📰 Reference News (6)

1

[Securities Industry Game Changer]② Park Hyeon-joo's style of territory expansion... Mirae Asset, global/digital restructuring

네이버뉴스 · 2026.07.27

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2

'No. 1 Brokerage' Kiwoom Securities, bets on WM with tax savings and AI - meconomynews.com

meconomynews.com · 2026.07.27

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4

Kiwoom Securities, retirement pension reserves exceed 100 billion won... expanding stock customer base

네이버뉴스 · 2026.07.27

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5

[Dongwon vs. Korea Investment] Kim Nam-goo

네이버뉴스 · 2026.07.26

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6

Good performance and sweet dividends... Securities and financial stocks become a shelter

네이버뉴스 · 2026.07.26

📰 View original