Lee Yeon-woo is a financial journalist at The Korea Times. Her wide range of reporting includes policies, macroeconomics, stock market, companies and even crypto. She is passionate about connecting the dots in Korean finance and making it easier for foreign nationals to understand. Based on her previous experience as a national reporter, she also has a keen interest in social issues within the sector, including gender equality and ESG. Your tips and insights are always appreciated. You can send them to yanu@koreatimes.co.kr.
Hana Securities, Futu open Korean stock market access to foreign investors
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By Lee Yeon-woo
Hana Securities said Monday that it has launched trading through omnibus accounts in partnership with Hong Kong-based global financial platform Futu Securities.
An omnibus account allows nonresident foreign investors to place and settle orders for Korean stocks through a local brokerage without having to open a separate account in Korea. The system is expected to improve trading convenience for overseas investors and broaden the potential base for capital inflows into the Korean stock market.
The launch marks Hana Securities' first omnibus account service offered through a mobile investment platform. After hosting an investment forum for 30 Futu Securities VIP clients in May, Hana Securities began a pilot program in June for customers who had applied in advance. The service was expanded to all customers last Friday.
Futu Securities operates the mobile investment platforms Futubull and Moomoo. It has operations in Hong Kong, Singapore, Malaysia, Japan, the United States, Australia and New Zealand. As of last year, it had about 3.37 million active accounts, approximately 246 trillion won ($167.7 billion) in client assets and annual trading volume of around 3,000 trillion won.
"This service will allow Futu Securities' millions of clients to access Korea's capital markets more conveniently," said Huh Tae-hyung, head of global sales at Hana Securities. "We will continue to introduce innovative services and take the lead in advancing the country’s capital markets."
Hana Securities first introduced the securities industry's inaugural omnibus account service with Hong Kong-based Emperor Securities last October, after receiving designation as an innovative financial service in April. It expanded the service to Japan's Capital Partners Securities in April.
Hana Securities also plans to launch the service with CITIC Securities in Hong Kong and Wedbush Securities in the United States. Through these partnerships, the company said it aims to expand access to Korea's capital markets beyond Asia to U.S. investors and further strengthen its global investor network.