Kiwoom Securities Files Corrected Registration Statement for 400 Billion KRW Unsecured Bond Issuance, Maintains AA0 Credit Rating

Kiwoom Securities submitted a corrected securities registration statement for the issuance of 400 billion KRW in unsecured bonds scheduled for payment on July 21, 2026. The issuance is split into 210 billion KRW for Series 22-1 and 190 billion KRW for Series 22-2, with seven underwriters including Korea Investment & Securities forming the syndicate.
The company continues its active shareholder return policy with a 2025 dividend of 11,500 KRW per common share and a treasury stock cancellation of 166,206 shares in May 2026, while maintaining stable profitability with a consolidated net profit of 477.4 billion KRW.
Financial soundness indicators include a net capital ratio of 1,848%, leverage ratio of 868%, and liquidity ratio of 110%. The savings bank subsidiaries maintain BIS ratios of 16.79% and 18.33% respectively. However, risks include a derivative-linked securities balance of 5.6 trillion KRW and high leverage.
[AI Summary]This corrected registration reflects administrative updates to the existing bond issuance process with no material changes to the terms. While the AA0 credit rating supports the fundraising, ongoing monitoring of derivative and leverage risks is warranted.