Korea Investment & Securities announced on June 10th the inauguration of the ‘KIS Indonesia (Korea Investment & Sekuritas Indonesia)’ at the Mugha hotel in Jakarta, Indonesia on June 9th.
Korea Investment & Securities has increased its capital from 5.53 million dollars to 37.5 million dollars by acquiring a Danpac Securities Indonesia in December last year. Danpac Securities, then a mid-sized company, immediately became the 11th largest company out of 106 securities firms in Indonesia.
Since then, Korea Investment & Securities has launched KIS Indonesia, a wholly-owned brokerage firm, with the approval of the Indonesian financial authorities in June this year.
By the end of this year, KIS Indonesia plans to introduce a Korean stock trading online system to establish a retail sales system. Korea Investment & Securities said it intends to build KIS Indonesia into the top 5 securities company within the next five years by strengthening its bond and stock brokerage infrastructure and increasing its acquisition business. The group’s asset management company is also planning to enter Indonesia by the end of this year.
Indonesia boasts high economic growth rate of more than 5 percent per annum and is the world’s fourth-largest populated country (about 260 million people. However, the number of securities trading accounts is only about 750,000, which is 0.3 percent of the population.
“In 2010, we acquired small and medium-sized securities companies in Vietnam, and with the experiences acquired, we will bring Indonesia to the top 10 within five years. Korea Investment & Securities will make a leap forward as the best investment bank in Asia,” said Yoo Sang-ho, CEO of Korea Investment & Securities.