Samsung Securities Wins License for Issued-Note Business, Bringing Short-Term Finance Operators to Eight

[Financial News] Samsung Securities will enter the issued-note business after obtaining a license to operate a short-term finance business from the financial authorities.
The Financial Services Commission (FSC) held its 15th regular meeting on the 9th and reviewed and approved Samsung Securities’ license to operate a short-term finance business under the Financial Investment Services and Capital Markets Act.
With the license, Samsung Securities can now issue promissory notes. These notes are issued on the company’s own credit by comprehensive financial investment business operators with at least 4 trillion won in equity capital that have been licensed to operate a short-term finance business, and have maturities of one year or less. Securities firms can use funds raised through issued notes for corporate finance and other purposes.
With Samsung Securities joining the group, the number of comprehensive financial investment business operators licensed for short-term finance has risen to eight: Mirae Asset Securities, Korea Investment & Securities, NH Investment & Securities, KB Securities, KIWOOM Securities, Shinhan Investment & Securities, and Hana Securities, along with Samsung Securities.
The FSC said, "The license is expected to help meet companies’ diverse funding needs, including the provision of venture capital."
A Samsung Securities official said, "We are grateful for the license to issue promissory notes," adding, "We will work to prepare the relevant products carefully, provide customers with a wider range of choices, and contribute to supplying venture capital to domestic industries."

[email protected] Lee Jeong-hwa Reporter