Kiwoom Securities stock slips as Hana cuts target after weak Q3

Hana Securities lowered its target for Kiwoom Securities after the brokerage's third-quarter performance fell short of market expectations. The research house kept its Buy rating but reduced the target from 490,000 Korean won to 380,000 Korean won, according to The Chosun Ilbo.

Target cut follows weak quarter

Consolidated operating and other income reached 245.1 billion Korean won in the third quarter, up 82.6 percent from a year earlier but down 30.4 percent from the previous quarter. Consolidated investment securities generated a loss of 57.1 billion Korean won, while other combinations produced a further loss of 15.9 billion Korean won.

Brokerage commission income rose 30.3 percent year on year to 225.6 billion Korean won, but fell 44.3 percent quarter on quarter as market trading volumes and average commission rates declined. Interest income also weakened, while the credit-loan balance recovered to 5.7 trillion Korean won by the end of September.

IB income offers partial support

Investment banking and other fee-based income increased to 120.2 billion Korean won, gaining 63.2 percent year on year and 20.0 percent from the previous quarter. Real-estate project financing was a key contributor, helping offset pressure on brokerage and investment-related earnings.

Hana Securities expects no meaningful improvement in brokerage performance during the fourth quarter. It also said valuation gains and losses on held funds and combinations are difficult to forecast, supporting a more conservative near-term earnings view.

Stock trades in South Korea

Kiwoom Securities stock traded at 199,300 Korean won in Korea at 7:30 a.m. CET on Tuesday, November 3, 2026. The quote reflects the latest available price for the Korean listing and is presented without a Xetra comparison.

Business spans brokerage and capital markets

Kiwoom Securities provides online brokerage services for domestic and international stocks, futures, options and foreign-exchange products. The Seoul-based company also operates in investment banking, bond underwriting, structured finance, asset management and retirement pensions.

Its business overlaps with Korean capital-markets peers including Hana Securities, Mirae Asset Securities and NH Investment & Securities. Kiwoom is particularly associated with its retail-oriented online trading platform, while its wider services extend into corporate finance and institutional markets.

South Korean equities remain the broader market backdrop for Kiwoom's brokerage and capital-markets operations.