Foray into Indonesia
Korea Investment & Securities announced on July 10 that it has officially launched KIS Indonesia, a local subsidiary in Indonesia. KIS Indonesia is the 11th largest securities company in Indonesia with a capital of 42 billion won. It acquired Danpac Securities which was worth 6.2 billion won last December and has grown since then through recapitalization.
An official of Korea Investment & Securities said, “We got the final approval from the financial authorities last month and launched KIS Indonesia. We are planning on making KIS Indonesia one of the top five securities companies in Indonesia.”
To this end, Korea Investment & Securities plans to introduce Korean online stock trading system to Indonesia, complete the retail business system, and expand bond and stock brokerage infrastructure.
In addition, the company is going to enter the Indonesian market through its asset management business this year, expanding its scope of business.