Samsung Securities recorded retirement pension assets of 28.09 trillion won in Q2 2024, ranking second among securities firms. The 62.6% year-over-year increase stems from strong performance in defined contribution and individual retirement pension non-principal-guaranteed products. Korea's retirement pension market has surpassed 500 trillion won, with securities firms capturing increased market share as investors shift from guaranteed-return products to higher-yield options.
Samsung Securities Records 28.09 Trillion Won in Q2 2024 Retirement Pension Assets
According to the Financial Supervisory Service's Integrated Pension Portal on January 18, Samsung Securities held 28.09 trillion won in retirement pension assets as of Q2 2024, representing a 62.6% increase from the same period last year. The firm maintained second place among securities firms. Mirae Asset Securities leads the market with approximately 52 trillion won in retirement pension assets.
Samsung Securities rose from fourth place to second place within one year. The firm first overtook Korea Investment Securities and Hyundai Motor Securities in Q3 of the previous year and has widened the gap since then.
Korea Investment Securities and Hyundai Motor Securities Trail in Rankings
Korea Investment Securities increased its retirement pension assets from 17.56 trillion won to 26.4 trillion won during the same period, but the gap with Samsung Securities widened. Hyundai Motor Securities recorded 19.13 trillion won in Q2 2024, a 6.7% increase from Q2 of the previous year.
The gap between Samsung Securities and market leader Mirae Asset Securities stands at approximately 24 trillion won. Industry observers note Samsung Securities' growth in defined contribution (DC) and individual retirement pension (IRP) products attracted funds from individual investors seeking higher returns.
Financial Supervisory Service Implements Asset Transfer System in Second Half of 2024
The retirement pension physical transfer system will be implemented in the second half of 2024, allowing subscribers to move between securities firms without terminating existing products. A financial investment industry official stated that retirement pension assets previously held in stable principal-guaranteed products are being reorganized based on returns.
FAQ
What were Samsung Securities' retirement pension assets in Q2 2024?
Samsung Securities recorded 28.09 trillion won in retirement pension assets in Q2 2024, a 62.6% increase from the same period last year, ranking second among securities firms according to the Financial Supervisory Service's Integrated Pension Portal.
How do other securities firms compare to Samsung Securities in retirement pension rankings?
Mirae Asset Securities leads with approximately 52 trillion won, followed by Samsung Securities at 28.09 trillion won, Korea Investment Securities at 26.4 trillion won, and Hyundai Motor Securities at 19.13 trillion won as of Q2 2024.
What institutional change will affect the retirement pension market in the second half of 2024?
The retirement pension physical transfer system will be implemented in the second half of 2024, allowing subscribers to move between securities firms without terminating existing products.
