KB Securities facilitates investment in Vietnam

By Kim Bo-eun

KB Securities' headquarters on Yeouido, Seoul / Korea Times file

KB Securities is focusing on offering services facilitating investment in Vietnam to capitalize on the potential of the Southeast Asian country. The brokerage said Monday it has added Vietnam to its Global One Market Service, which allows investors to trade foreign stocks in Korean won.

Formerly, local investors had to exchange Korean won to U.S. dollars and then U.S. dollars to Vietnamese dong, which would take one to two business days.

In January, KB introduced its account through which foreign stocks can be traded in Korean won. Since then, over 40,000 accounts have been opened.

Investors are able to trade stocks in markets in the U.S., Hong Kong, China, Japan and Vietnam using Korean won.

KB has been diversifying its Vietnam investment product lineup and research.

In June last year, it became the first securities firm to launch a certificate of deposit through its subsidiary in Vietnam, KB Securities Vietnam.

KB is also selling promising mutual funds in Vietnam.

Its research center, in collaboration with KB Securities Vietnam, is introducing promising stocks, and also issuing reports on the Vietnamese market.

“KB Securities has all the necessary units to specialize in the Vietnamese market, including the wealth management division, research center and KB Securities Vietnam,” said Lee Hyung-il, head of the wealth management division.

“We will enhance customer satisfaction through continued efforts, by collaboration among various units to serve as a compass in investing in the Vietnamese market.”