📊 Kiwoom Securities Between a Setback in the CB Bidding and a NongHyup Partnership - 2026.10.14

Hi, I’m Peanut. There’s a lot of news today, so let’s start by checking the numbers together. 📊 First, the stock closed on October 14 at ₩226,000, down -1.74% from the previous day. Compared with the October 2 close of ₩259,000, the stock has been under considerable pressure. Could today’s news change that trend? Is that really likely?

Kiwoom bows out of the Doosan Fuel Cell CB contest

Major securities firms flocked to Doosan Fuel Cell’s fundraising process amid the AI boom, and Kiwoom Securities came up short in the bidding to acquire its CB (convertible bonds), ChosunBiz reported ^[1]. We can tell the contest was significant, but the article doesn’t explain why Kiwoom lost out. It would be too soon to call that a weakness. For now, let’s stick to the fact that Kiwoom’s name was absent from the deal.

Linking investment advice with NongHyup: platforms and WM

Kiwoom Securities and NH NongHyup Bank signed a business agreement on the 13th to promote financial investment advisory services. Hong Wan-ki, head of Kiwoom Securities’ S&T MARKET Division, attended the signing ceremony ^[5]. Money Today also reported that the two companies are joining forces to expand investment advisory services ^[7]. The key is how they divide responsibilities: Kiwoom plans to contribute its platform operating capabilities, while NongHyup brings its wealth management (WM) expertise, with the aim of improving service reliability and expanding its reach ^[6]. But a plan is only a plan. Can we verify how many customers actually use the service? That question remains.

Hero Moon S# order screen: a change focused on convenience

Kiwoom Securities has introduced a new domestic stock order screen in Hero Moon S#, saying the redesign will reduce the inconvenience of switching between multiple screens to check charts, holdings, and product information ^[3]. Korea Report also described it as a layout that displays chart, balance, and ETF information at a glance ^[4]. Honestly, this is more of a customer convenience improvement than a stock catalyst. Whether a more convenient screen leads to increased trading remains to be seen, and that has not been confirmed yet. Peanut thinks it’s better to view this redesign as a change in customer convenience rather than oversell it as good news.

Reports, succession rules, and the variables still to watch

NewsPim reported that in a report previewing third-quarter earnings, Daol Investment & Securities set a target price while noting that investors should wait to see dividend downside support and when earnings diversification takes hold ^[2]. Looking only at the direction, without specific figures, this is a securities firm’s outlook—not a plan confirmed by the company. In other words, the period when dividends provide support and the timing of earnings diversification are still matters to wait for. We should also consider the possibility of a value trap here. If earnings and diversification results fail to follow through, a stock that looks cheap may simply stay cheap. From a swing-trading perspective, confirming medium-term earnings comes before focusing on short-term catalysts.

Meanwhile, criticism has also emerged that the CEO succession rules need to be improved. The personnel department under the incumbent CEO recommends candidates, while no other recommendation channels are specified in the guidelines, the report said ^[8]. There’s no evidence that this will affect earnings immediately. Still, it’s a point worth noting from a corporate governance perspective.

To sum up, the CB bidding setback, the NongHyup partnership, and the order screen redesign carry different weight. At this stage, Peanut sees more numbers to verify than catalysts for a rebound. The remaining questions are whether the investment advisory partnership delivers measurable results, whether earnings diversification can actually happen sooner, and how the succession rules will be improved. Let’s revisit this when these variables start to provide answers. 🥜

📰 Reference News (8)

1

Major securities firms crowd into Doosan Fuel Cell fundraising amid AI boom… Kiwoom Securities comes up short in CB bidding - ChosunBiz - Chosunbiz

Chosunbiz · 2026.10.14

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2

[Report Briefing] Kiwoom Securities, '3Q26 Preview: Awaiting earnings diversification amid dividend downside support' Target price 510,000 KRW - Daol Investment & Securities - NewsPim

뉴스핌 · 2026.10.13

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3

Kiwoom Securities revamps domestic stock order screen in Hero Moon S#

네이버뉴스 · 2026.10.13

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4

Kiwoom Securities revamps Hero Moon S# order screen… charts, balances, and ETF information at a glance - Korea Report

네이버뉴스 · 2026.10.13

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5

NH NongHyup Bank financial investment advisory service added to Kiwoom Securities MTS

네이버뉴스 · 2026.10.14

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6

Kiwoom Securities and NH NongHyup Bank join forces… upgrade investment advisory platform and expand services

네이버뉴스 · 2026.10.14

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7

Kiwoom Securities joins hands with NongHyup Bank to promote investment advisory services - Money Today - Money Today

머니투데이 · 2026.10.14

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8

Kiwoom Securities CEO succession in the hands of the personnel team under the CEO

네이버뉴스 · 2026.10.14

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