[DigitalToday reporter Oh Sang-yup (오상엽)] South Korean brokerages are speeding up overseas expansion. As mobile trading systems (MTS) spread and domestic outlets are streamlined, firms are seeking new growth drivers in foreign markets through services such as foreign omnibus accounts.

According to the financial investment industry on July 2, 16 domestic brokerages operated 93 overseas outlets as of end-2025. The figure includes 83 local subsidiaries and 10 representative offices.

During 2025, 14 overseas outlets opened and 1 closed, for a net increase of 13 in a year. Net profit at overseas local subsidiaries was $455.8 million, up 67.8 percent from a year earlier.

By contrast, the Korea Financial Investment Association counted 438 domestic outlets at the top 10 brokerages as of March 31, 2026, down 6 from 444 a year earlier.

Over the same period, overseas outlets rose to 63 from 59. As non-face-to-face trading becomes common, the structure is to shrink domestic sales networks and broaden income sources through overseas subsidiaries and offices.

Mirae Asset Securities is the most advanced. Based on Financial Supervisory Service figures, Mirae Asset Securities held 29 overseas outlets as of end-2025, including 26 local subsidiaries and 3 offices. It is the highest level among domestic brokerages. Pretax profit at its overseas subsidiaries was also 498.1 billion won, nearing 500.0 billion won.

Mirae Asset Securities is expanding both advanced financial markets such as New York, Hong Kong, London and Singapore and emerging markets such as India, Vietnam and Indonesia. It recently unveiled its global investment platform, MAPS, in Hong Kong. With Singapore brokerage UOB Kay Hian, it signed a foreign omnibus account contract and is also pursuing greater access to South Korean stocks for Southeast Asian investors.

Samsung Securities launched a foreign omnibus account service with global online brokerage Interactive Brokers (IBKR). On July 2, it also signed a strategic memorandum of understanding with Singapore's DBS and agreed to cooperate in global wealth management, digital and AI, and two-way customer referrals.

A foreign omnibus account is a system that allows overseas investors to trade South Korean stocks through local brokerages without opening accounts directly at a South Korean brokerage. Overseas brokerages consolidate multiple investors' orders into a single account and send them to the domestic market.

Samsung Securities is working with IBKR, Mirae Asset Securities with UOB Kay Hian, and Kiwoom Securities with Webull. Hana Securities is also expanding its foreign omnibus account business through partnerships with Hong Kong's Emperor Securities and Japan's Capital Partners.

Korea Investment & Securities operates 9 overseas local subsidiaries and 2 overseas offices as of March 2026. Its key hubs include Hong Kong, New York, a U.S. IB subsidiary, Singapore, London, Vietnam and Indonesia. In the United States it focuses on IB and alternative investments, in Hong Kong on Asian deal sourcing, and in Vietnam and Indonesia on retail and local IB business.

NH Investment & Securities and KB Securities are also expanding their overseas networks. NH Investment & Securities is strengthening overseas bond, institutional sales and U.S. stock brokerage functions centered on its New York and Hong Kong subsidiaries.

KB Securities opened an office in Mumbai, India, following hubs in Southeast Asia such as Vietnam and Indonesia and in Hong Kong and New York. The Mumbai office will serve as a base to secure transaction opportunities such as local mergers and acquisitions and equity investments.

Online platform brokerages such as Kiwoom Securities, Toss Securities and Next Securities are also expanding overseas bases. Kiwoom Securities is working with Webull on a foreign omnibus account and is pushing to acquire Shinhan Securities America, the U.S. local subsidiary of Shinhan Investment Corp, to secure direct brokerage capabilities in the United States.

Toss Securities received U.S. broker-dealer approval through its U.S. second-tier subsidiary, TSA Financial, and also established a Singapore unit. Next Securities set up its local unit NextMarket in Delaware last year and is also pursuing the establishment of a Singapore unit, NextMarket Asia.

Among small and midsize firms, Hanwha Investment & Securities is expanding its overseas business base centered on Southeast Asia. Hanwha Investment & Securities is making Indonesia a key hub following Vietnam and Singapore. After completing the acquisition of Indonesia's Ciptadana Securities in 2024, it also completed the acquisition process for Ciptadana Asset Management in 2025.

SK Securities formed a strategic IB partnership with India's ICICI Securities and agreed to cooperate in initial public offerings, mergers and acquisitions, structured finance and attracting institutional investors. It was selected as the sole domestic adviser for IB work for Indonesia's Mayapada Group and also led fundraising in South Korea and the Asia-Pacific region for U.S.-based LA Golf Partners.

Still, expanding overseas does not immediately translate into stable profits.

The Financial Supervisory Service pointed out at a briefing last month to support financial companies' overseas expansion that supervision, inspections and sanctions related to information technology and anti-money laundering are being strengthened, centered on the United States and Southeast Asian countries. The larger the overseas business becomes, the more important head-office monitoring, internal controls and the ability to respond to local regulations become.

In the brokerage industry, the view is that the core of competition in overseas business has shifted from the simple number of outlets to localization and profit models. Business scope is widening beyond brokering overseas stocks for domestic investors to inflows of South Korean stocks by overseas investors, global IB deal sourcing, digital asset infrastructure and AI technology hubs.

An official in the financial investment industry said, "Competition is already intense in the domestic brokerage market, so overseas business has become closer to a survival strategy than a choice." The official added, "Going forward, a differentiating factor will be which brokerage can link its local network to actual profits and manage risks in a stable way."