Kiwoom Securities Files for Additional 116.7 Billion Won in Equity-Linked Securities, Maintains AA Credit Rating and Shareholder Return Policy
Kiwoom Securities has filed an additional registration statement for the issuance of 13 series of equity-linked securities totaling 116.7 billion won.
Most securities are high-difficulty non-principal-protected products where potential principal loss exceeds 20% and are not covered by depositor protection laws.
The company maintains an AA credit rating, but the audit report emphasizes uncertainty in the valuation and recovery of the Gentoo Partners fund.
In 2025, Kiwoom reported net income of 1.1 trillion won, paid dividends of 301.3 billion won including 11,500 won per common share, and canceled treasury shares worth 105.7 billion won, continuing its shareholder return policy.
On a consolidated basis, Q1 2026 net income was 477.4 billion won, and there are multiple pending lawsuits.
[AI Summary]This ELS issuance is a routine business activity with no capital dilution, and the AA credit rating reflects sound creditworthiness. However, large outstanding derivatives and Level 3 financial assets create sensitivity to market volatility, posing potential loss risks.
KOSPI Filing Information
Additional Documents for Shelf Registration (Derivative-Linked Securities - Equity-Linked Securities)