Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
K bank, NH forge ties on US stock investment
K bank headquarters in Seoul / Yonhap
By Lee Min-hyung
By Lee Min-hyung
K bank launched an overseas stock trading service in partnership with NH Investment & Securities, allowing its customers to buy and sell U.S. shares in the Korean currency, the mobile lender said Thursday.
The service is available for K bank users who open an account with the securities firm. They can also access information on U.S. stock charts and trading trends via K bank's mobile app.
One key feature of the service is that the built-in artificial intelligence (AI) program analyzes each customer's investment patterns and recommends stocks. Users can also get the latest information on stock investments and receive up-to-date news on trading.
If customers open an account with the NH affiliate via the lender's mobile app by the end of this month, the bank will offer them U.S. shares worth 10,000 won ($7) for free. They can also enjoy promotional commission benefits, the lender said. Users do not have to install the securities app. They can freely trade stocks in the U.S. and Korea via K bank's app.
“Under the partnership with NH Investment & Securities, we have introduced an easy-to-use stock trading service,” a K bank spokesperson said. “We will keep expanding ties with other companies and launch more diverse investment services, so customers can increase their wealth.”
K bank expects the service to help increase its customer base. According to the lender, the number of its customers topped 8 million as of the end of September. It has been less than a year for the firm to secure an additional 1 million more users since the figure reached 7 million at the end of 2021.
The lender achieved a major turnaround last year when it chalked up 22.5 billion won in net profit. This was the first time that the company reported a surplus since it made its debut in April 2017.