South Korean securities firms are expanding partnerships with Japanese financial institutions and broadening cooperation into areas including acquisitions, business alliances, digital assets and collaboration with research institutions.
On the 28th, Mirae Asset Securities’ board of directors decided on a policy to acquire 100% of Sanko Securities, a subsidiary of Okasan Securities Group. The acquisition price is approximately KRW 47.6 billion, and the transaction will be conducted through its U.S. subsidiary. The company plans to invest a total of ¥12 billion to expand its business in Japan. Sanko Securities is expected to obtain a local securities business licence, strengthen its proprietary trading business and expand into the retail sector, while cooperation with Okasan Securities Group is also under consideration.
Hanwha Investment & Securities signed an SPA on the 12th to acquire the securities division of GI Capital Management. The aim is to strengthen its Asian financial network by establishing a base in Japan. The company plans to use GI Capital Management’s institutional investor network to expand its existing business and explore opportunities in new fields such as digital assets.
In September, Shinhan Investment Corp. met with the management of Japan’s Mizuho Securities and Rakuten Securities to discuss the possibility of business cooperation. In particular, it reached an agreement with Mizuho Securities on expanding its institutional investor business by leveraging its research capabilities, and is considering a policy of introducing both companies to overseas institutional investors through the Mizuho Investment Conference.
In the digital asset sector, DSRV, NICE Information & Telecommunication and SBIDigitrust signed a memorandum of understanding (MOU) on the 30th of last month for a business alliance to test a Japan-South Korea remittance and payments model. By the end of December, the parties will assess its technical feasibility and business viability and decide whether to commercialise it.
On the 28th, the Korea Capital Market Institute signed an MOU with JSRI in Tokyo, agreeing to exchange information on financial and capital-market systems and legislation and to promote regular exchanges among researchers and joint seminars. On the 7th, the Korea Financial Investment Association signed an MOU with IMAJ and will promote the sharing of asset management market information, personnel exchanges and joint seminars.
Cooperation is also continuing in financial security. Since signing agreements with F-ISAC and FS-ISAC in 2022, the Financial Security Institute has shared threat information with the Japanese side. Information on recent hacking and information-leak incidents has also been shared with Japan.