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Contents

   



(Top)
 


1 History  





2 2018 Samsung fat-finger error  





3 References  





4 External links  














Samsung Securities








 

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From Wikipedia, the free encyclopedia
 


Samsung Securities Co., Ltd.

Native name

삼성증권 (三星證券)
FormerlyHanil Investment & Finance
Kookje Securities
Company typePublic

Traded as

KRX: 016360
IndustryFinancial services
FoundedOctober 19, 1982; 41 years ago (1982-10-19)
HeadquartersSeoul, South Korea

Key people

Seok Hoon Chang (CEO)
ProductsInvestment banking
Sales and trading
Wealth management
RevenueIncrease KRW 2.40 trillion (2021)

Net income

Increase KRW 965.34 billion (2021)
Total assetsIncrease KRW 65.71 trillion (2021)
Total equityIncrease KRW 6.08 trillion (2021)
OwnersSamsung Life Insurance (29.60%)
National Pension Service (11.30%)

Number of employees

2,397 (2021)
ParentSamsung
Websitewww.samsungsecurities.com
Footnotes / references
[1]

Samsung Securities Co., Ltd. (Korean삼성증권) is a South Korean financial services company headquartered in Seoul, South Korea, and a subsidiary of Samsung Group. It is one of the largest securities companies in Korea.[2]

History[edit]

On 19 October 1982, Hanil Investment & Finance was established.[1][3]

In 1988, the company was publicly listed on the Korea Exchange.[1]

In 1991, the company changed its name to Kookje Securities.[1]

In 1992, the company was incorporated into the Samsung Group and was rebranded to Samsung Securities.[1][3]

In 1996, the company attempted to set up a joint venture with J.P. Morgan & Co. to sell mutual funds in Korea but by 1997, the venture failed.[4] In 1998, the company was the first to sell mutual funds in Korea.[1]

In 2000, the company merged with Samsung Investment Trust.[1]

In 2014, the company's ownership of Samsung Asset Management was transferred to Samsung Life Insurance.[5]

In 2018, the company set up a team specializing in analysing investments related to North Korea, the first in the industry to do so according to a statement issued.[6][7]

The company has signed partnerships with various companies. These include Rothschild &Co (2008),[1][8] Neuberger Berman (2014),[9] KGI Securities (2016)[1][10] and Societe Generale (2018).[11]

The company has opened offices overseas. These include London (1996), New York (1998) and Hong Kong (2001).[1][12]

2018 Samsung fat-finger error[edit]

On 8 April 2018, an employee of Samsung Securities mistakenly distributed shares worth US$100 billion to employees.[13][14] The error happened when the company tried to pay a dividend to about 2,000 employees who participated in the company stock ownership plan.[13][14] The intent was to give each of those employees 1,000 South Korean won, worth about US$1, but instead issued 2.8 billion shares.[13][14] These shares were worth about 112.6 trillion won, or 30 times the market capitalization of the company.[13][14]

The error caused the price of the company's stock to drop by 11 percent within a day and to fluctuate after that.[13][14] By 7 May 2018, the company stated that it would file criminal lawsuits against employees who sold their shares during the fat finger incident.[13]

References[edit]

  1. ^ a b c d e f g h i j "Annual Report 2021" (PDF). 14 January 2023. Archived from the original (PDF) on 14 January 2023.
  • ^ "Samsung Securities | Company Overview & News". Forbes. Retrieved 15 March 2023.
  • ^ a b "Moody's assigns first-time Baa2/P-2 ratings to Samsung Securities, Korea". Moodys.com. 11 April 2011. Retrieved 14 January 2023.
  • ^ Tam, Pui Wing (18 August 1997). "Mutual Fund Ventures Find Difficulties in South Korea". WSJ. Retrieved 14 January 2023.
  • ^ "Samsung Life seeks to wholly own Samsung Asset Management - Pulse by Maeil Business News Korea". pulsenews.co.kr (in Korean). Retrieved 14 January 2023.
  • ^ "Samsung Wants to Guide You on Picking Stocks Tied to North Korea". Bloomberg.com. 8 June 2018. Retrieved 14 January 2023.
  • ^ Ji-hyoung, Son (26 July 2018). "Samsung Securities steps up efforts for NK investment opportunities". The Korea Herald. Retrieved 14 January 2023.
  • ^ "Samsung Securities to Enter into Global M&A Market - Pulse by Maeil Business News Korea". pulsenews.co.kr (in Korean). Retrieved 14 January 2023.
  • ^ "Neuberger Berman, Samsung units team up to offer strategies in South Korea". Pensions & Investments. 5 November 2014. Retrieved 14 January 2023.
  • ^ "Samsung Securities to start trading Taiwanese stocks". www.theinvestor.co.kr. Retrieved 14 January 2023.
  • ^ "Samsung Securities partners with Societe Generale to introduce European equities". 매경ECONOMY. 17 July 2018. Retrieved 14 January 2023.
  • ^ "Samsung Securities Said to Close Most of Hong Kong Unit". Bloomberg.com. 31 January 2012. Retrieved 14 January 2023.
  • ^ a b c d e f Jeong, Eun-Young (7 May 2018). "Samsung Securities Seeks Charges Against Some Employees Over 'Fat Finger' Mistake". The Wall Street Journal. Retrieved 14 January 2023.
  • ^ a b c d e Ji-hyoung, Son (8 April 2018). "Samsung Securities fiasco exposes stock trading loophole". The Korea Herald. Retrieved 14 January 2023.
  • External links[edit]


    Retrieved from "https://en.wikipedia.org/w/index.php?title=Samsung_Securities&oldid=1224296454"

    Categories: 
    Samsung subsidiaries
    Companies based in Seoul
    Financial services companies established in 1982
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    Companies in the KOSPI 200
    South Korean brands
    South Korean companies established in 1982
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    Articles with short description
    Short description matches Wikidata
    Use dmy dates from December 2023
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