Kiwoom Securities will work with Naver Pay Unlisted to build a cross-trading system that allows trading unlisted shares even when brokerage accounts differ.

Kiwoom Securities said on Sept. 22 it signed a business agreement with unlisted-share trading platform Naver Pay Unlisted to introduce a cross-trading system for unlisted shares.

Currently, Naver Pay Unlisted allows trades only between buyers and sellers who hold accounts at the same brokerage. Once the cross-trading system is introduced, Kiwoom Securities customers will be able to trade unlisted shares on Naver Pay Unlisted using their existing Kiwoom Securities accounts without opening a new securities account.

From the perspective of unlisted companies, it explained, expanded access for investors could widen channels for funds to flow into growth companies such as venture firms and startups.

The two companies plan to link the system and related infrastructure for cross-trading, starting with this agreement. Kiwoom Securities plans to continue cooperating with Naver Pay Unlisted to improve access to unlisted-share trading.

Kiwoom Securities CEO Eom Ju-seong (엄주성) said, "With the introduction of this system, we will be able to provide customers with a more convenient and accessible environment for investing in unlisted shares," adding, "Based on cooperation with Naver Pay Unlisted, we will work to vitalise over-the-counter share trading."