Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
Korea Securities Depository offers electronic services to strengthen client convenience
The Korea Securities Depository (KSD) is offering services electronically to enhance convenience for its clients in the equity market amid the push toward an accelerated digital transformation.
Operating under the wing of the Korea Exchange, the country’s sole bourse operator, the depository is responsible for holding and transferring stocks on behalf of brokerage houses and other financial firms for the clearing and settlement of stocks.
The Seoul office of the Korea Securities Depository (KSD), headquartered in Busan / Courtesy of KSD
By Yi Whan-woo
Headquartered in Busan, the depository has been providing online services for clients, both listed and unlisted firms, as well as individual shareholders since July 2022 to minimize face-to-face work in the wake of the COVID-19 pandemic and to enhance convenience.
Available on its website, the services are aimed at also reducing paper waste, which is in line with its environmental, social and corporate governance (ESG) campaign.
“The services make it much more convenient and efficient for our clients to take care of their stocks,” the depository said in a statement. “We will continue to make efforts for clients’ convenience in a sustainable manner.”
The services offered include a calendar that shows key schedules, including the shareholder meetings of relevant companies, and inquiries concerning cash dividends of certain stocks that will be transferred from one party to another.
The clients can also request to receive notices that were sent via post.
The depository has also been stepping up its efforts to cope with the trading of assets in digital form. For instance, it announced a plan last year to build a relevant platform for securities tokens, a new form of digital asset, which increasingly are being used for fractional asset ownership.