Samsung Securities said Tuesday it launched a foreign omnibus account service in partnership with Interactive Brokers, marking a major step in efforts to attract more global retail investors to the South Korean stock market.
Interactive Brokers, one of the world’s largest online brokerages with roughly 4.65 million client accounts and a market capitalization of around 200 trillion won ($134.5 billion), provides trading services across more than 170 markets worldwide.
The new service allows overseas investors to trade South Korean stocks through Interactive Brokers without needing to open separate accounts with Korean securities firms.
Samsung Securities said it had been discussing cooperation with Interactive Brokers since 2023.
The brokerage received approval from the Financial Services Commission in September last year after the service was designated an “innovative financial service.” It subsequently built related trading systems and infrastructure ahead of the launch.
Interactive Brokers began pilot operations for omnibus account trading through Samsung Securities in late April before officially launching the service this month.
The market reacted quickly. Samsung Securities shares surged nearly 40 percent this month and briefly hit the daily trading limit after news of the partnership fueled expectations of large inflows from US retail investors.
While Korean retail investors have aggressively expanded investments into overseas markets, foreign retail participation in South Korea has remained relatively limited due to complicated account-opening procedures and regulatory barriers.
Samsung Securities noted that some local firms already operate omnibus account services focused on specific countries, but said its partnership with a global brokerage platform with a broad international user base differentiates the offering.
The launch also comes as the South Korean government pushes broader capital market reforms to attract foreign investment, including easing omnibus account regulations and revising related guidelines.
Samsung Securities said the service could help expand foreign participation in the Korean stock market while contributing to currency market stability.
“Through cooperation with global brokerage firm Interactive Brokers, foreign investors can now trade South Korean stocks more easily and quickly,” a Samsung Securities official said.
“We will continue introducing innovative services to strengthen the global competitiveness of Korea’s capital markets.”
ch0221@heraldcorp.com
