Kiwoom Securities said on Monday its commercial paper deposit balance exceeded 1 trillion won as of March 10. It received approval from financial authorities for its commercial paper business in November and introduced its first product, Kiwoom commercial paper, on Dec. 19.

Kiwoom commercial paper met its sales target of 300 billion won within a week of launch. The company continued to attract customers by offering high interest rates even after the end of the special sale. It said the commercial paper balance topped 1 trillion won in about three months. It plans to sell commercial paper with a goal of raising about 2 trillion won in deposits by the first half of this year.

It also plans to supply 600 billion won in new venture capital this year. The company aims to expand funding for small, venture and innovative firms and promote activation of the secondary market for venture capital, new technology financing companies and KOSDAQ venture funds. It will step up direct investment of at least 200 billion won in small, venture and innovative firms and supply funds to venture capital firms' secondary funds.

It will also supply funds to private venture parent funds. Kiwoom Securities will invest a total of 200 billion won in private venture parent funds. A private venture parent fund refers to a fund of funds that invests in multiple venture sub-funds that invest in venture companies, and means a fund formed with purely private funding sources.

Kiwoom Securities has continued to supply at least 100 billion won a year in equity investment-type venture capital over the past five years to small, venture and innovative companies, including KOSDAQ venture funds and new technology financing associations. As of the end of last year, it already holds a venture capital investment balance of about 750 billion won.

A Kiwoom Securities official said, "While putting investor protection as the top value, we will establish a virtuous cycle structure that helps corporate growth with differentiated operational capabilities and returns the fruits to investors." The official added, "With the aim of providing quality investment assets to individual customers, we will continue to offer competitive interest rates."