Kiwoom Securities Q2 NDR Analysis: What Happened?

Kiwoom Securities held an NDR (Non-Deal Roadshow) on July 31, 2025, to explain its Q2 2025 earnings results. Investor interest was high given this NDR follows a weak Q3 performance.

Analyzing the Causes of Underperformance and Market Conditions: Why?

The main reasons for the poor Q3 performance were domestic and international political and economic uncertainties, increased market volatility, and losses related to the Gen2 Partners Fund. The high interest rate environment since 2024, geopolitical risks, and global recession concerns have weighed on Kiwoom Securities’ profitability. However, the robust market share in the retail sector and the growth of the S&T and IB sectors served as positive factors.

Key NDR Takeaways and Future Outlook: What’s Next?

  • Q2 Earnings: The key focus is whether Q2 earnings will meet, beat, or miss market expectations. The release of additional information regarding the Gen2 Partners Fund is expected to significantly impact the stock price.
  • Future Outlook: Management’s outlook on the market and Kiwoom Securities’ response strategies, risk management strategies, and shareholder return policy will influence investor sentiment.

Action Plan for Investors

Investors should make investment decisions based on a comprehensive analysis of Q2 earnings, information related to the Gen2 Partners Fund, and the future outlook. Further information gathering and continuous market monitoring are crucial. Paying close attention to the Q&A session to understand management’s perspective is also important.