Kiwoom Securities' promissory note balance held by retail customers rose more than fivefold in nine months. Growth was particularly notable among customers in their 20s and 30s, suggesting demand for managing short-term spare funds is expanding among younger investors.

Kiwoom Securities said on Tuesday that an analysis of investment trends among its retail customers in its promissory notes showed the balance stood at 659.6 billion won as of Sept. 29.

That was up 538.7 billion won, or about 5.5 times, from 120.9 billion won on Jan. 2. Over the same period, the average balance per customer rose 51 percent to 94.68 million won from 62.86 million won.

Promissory notes are short-term financial products with maturities of up to one year that securities firms issue on their own credit.

By age group, growth was steepest among customers in their 20s. Their promissory note balance rose about 14 times from the start of the year. The average balance per customer increased 93 percent to 25.71 million won from 13.35 million won.

Balances among customers in their 30s expanded about 6.9 times over the same period. The average balance per customer rose 75 percent to 50.40 million won from 28.76 million won.

As a result, the share of total retail customer promissory note balances held by customers in their 20s and 30s rose 2.9 percentage points to 10.5 percent from 7.6 percent at the start of the year.

Customers in their 40s also sharply increased investments. Their balances rose about 5.9 times, and the average balance per customer climbed 91 percent to 98.80 million won from 51.85 million won.

In absolute investment 규모, middle-aged and older customers accounted for a large share. The average balance per customer was highest among customers aged 60 and older at 137.85 million won, followed by those in their 50s at 106.57 million won.

Customer growth by gender was similar. The number of male customers rose 3.7 times from the start of the year, while the number of female customers increased 3.5 times.

A Kiwoom Securities official said promissory note balances are rising mainly among customers in their 50s and 60s, while investment 규모 among those in their 20s and 30s is also increasing rapidly. The official said the company will continue to diversify its product lineup and improve service convenience.