Toss Securities aims for No. 1 in retail investment
Toss Securities pledged to reach the top spot in retail investment in Korea Thursday, even though it was founded just three years ago.
Speaking at a press conference to mark the firm’s third anniversary, Toss Securities CEO Kim Seungyeon said U.S. blue chip corporate bonds will now be included in its services for retail investors in addition to U.S. blue chip stocks.
To make it easier for clients to begin investing, the minimum sales price for a corporate bond will be set at $1,000. According to Toss Securities, it’s an affordable price because a corporate bond is usually sold at between $2,000 and $3,000 in the market.
“The company proved itself as a profitable brokerage house through last year, and from now on, it will prove itself to be a profitable investment company with its range of financial products,” Kim said.
“We will come up with meaningful achievements in terms of both profitability and growth, and Toss Securities customers will be able to enjoy various investment opportunities.”
For more convenient investing, Toss Securities plans to introduce its web trading system (WTS), which allows securities trading through the customer’s personal computer.
The WTS allows investors to explore information in more depth than when using the mobile trading system (MTS) that is currently offered by Toss Securities for smartphone users.
The CEO urged investors to capitalize on the growth potential of the firm after it was launched as the brokerage arm of Toss Bank, an internet-only lender.
He pointed out that the company swung to black last year for the first time, posting a net income of 1.5 billion won.
“Under the circumstances, we expect the quarterly net income for the first quarter of 2024 will more than double the net income of all of 2023,” Kim said.
Meanwhile, the CEO said the company takes app malfunctions seriously after it was disgraced for having the most frequent number of app malfunctions in 2023.