[Photo provided by Korea Investment & Securities Co.]
Korea Investment & Securities Co. said Tuesday it has kicked off operations of its Indonesian subsidiary under new name KIS Indonesia with an aim to become one of the top five brokerage houses in Indonesia within the next five years.
The Korean brokerage acquired Danpac Sekuritas (former KIS Indonesia) in December last year, and then raised its total equity capital to 42 billion won ($37.6 million) from 6.2 billion won, the 11th largest among 106 local brokerages.
For the stable operation of KIS Indonesia, it is planning to launch Korean-type home trading system for online stock trade and add more infrastructures to facilitate mobile and home trading of stocks and bonds. Its business will expand more once it launches an asset management within this year, the company added.
Indonesia has great growth potential in the securities industry as a mere 0.3 percent of its population amounting to 260 million, the fourth largest in the world, has a bank account for stock trade.
“We’ll make efforts to raise our presence in the Southeast Asian market by expanding the business in Indonesia based on our experience in Vietnam,” said a company official.
By Kim Je-lim and Lee Ha-yeon
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