Kiwoom Securities (039490.KS) is teaming up with Naver Pay Unlisted to introduce a cross-brokerage trading system that will let investors buy and sell unlisted shares even when they hold accounts at different brokerages.
Kiwoom Securities said on the 22nd that it had signed a memorandum of understanding with Naver Pay Unlisted, a trading platform for unlisted stocks, to build the cross-brokerage trading system.
Under the current setup, buyers and sellers on Naver Pay Unlisted must hold accounts at the same brokerage to complete a trade. Once the cross-brokerage system is in place, investors with accounts at different brokerages will be able to trade with each other on the same platform.
Kiwoom Securities customers will be able to link their existing Kiwoom accounts to Naver Pay Unlisted without opening an additional securities account.
The two companies plan to connect their trading infrastructure under the agreement. They expect that as more brokerages join, the volume of buy and sell orders gathered on a single platform will grow, improving access to unlisted shares and market liquidity.
Kiwoom Securities said it aims to broaden investor access to unlisted companies and widen the channel through which capital flows to venture firms and startups.
"Through the cross-brokerage trading system, we will make it easier for investors to trade unlisted shares using their existing accounts," Kiwoom Securities CEO Eom Joo-sung said. "We will work together to create a safe and transparent environment for unlisted stock trading."
