Retail client balances in Kiwoom Securities' (039490.KS) promissory notes have more than quintupled this year, with the average holding per client approaching 95 million won. Investors in their 50s and 60s account for the bulk of the money, while buying by those in their 20s and 30s is growing at a faster pace.
Retail client balances in the notes stood at 659.6 billion won as of Sept. 29, up 538.7 billion won from 120.9 billion won on Jan. 2, Kiwoom Securities said on the 21st. The balance expanded 5.5-fold in about nine months, and the average balance per client rose 51% to 94.68 million won from 62.86 million won over the same period.
By age group, balances held by clients in their 20s rose about 14-fold from the start of the year, and their average balance per person climbed 93% to 25.71 million won from 13.35 million won. Balances for those in their 30s expanded 6.9-fold, with the average rising 75% to 50.4 million won from 28.76 million won. As a result, the combined share of clients in their 20s and 30s in total promissory note balances rose to 10.5% from 7.6%.
Older clients still accounted for the largest sums. Clients aged 60 and over held the highest average balance at 137.85 million won, followed by those in their 50s at 106.57 million won. Total balances for clients in their 40s rose 5.9-fold from the start of the year, with the average balance up 91% to 98.8 million won from 51.85 million won. The number of clients rose 3.7-fold among men and 3.5-fold among women, a similar pace of growth.
"Promissory note balances have been growing steadily, led by clients in their 50s and 60s, while the scale of investment by those in their 20s and 30s is also expanding quickly," an official at Kiwoom Securities said. "We will diversify our product lineup and improve the convenience of our services so that clients can manage their spare funds more easily."