The Financial Supervisory Service is conducting a systems failure inspection targeting Kiwoom Securities.
According to the financial investment industry on the 4th, the FSS plans to conduct an on-site inspection of Kiwoom Securities starting on the 7th. It will investigate the cause of the systems failure at Kiwoom Securities, the compensation procedures for the systems failure, and the appropriateness of measures to prevent recurrence.
The systems failure occurred two consecutive days at the beginning of last month when the domestic stock market was plummeting. On the 3rd of last month, errors occurred in the Kiwoom Securities mobile trading system (MTS) and home trading system (HTS) "Hero's Document S#" and were restored after about an hour. On that day, it was right after the U.S. government announced reciprocal tariffs, which led to a surge in investor orders as the domestic stock market dropped sharply.
On the 4th, the day of the impeachment ruling of former President Yoon Suk-yeol, login orders and buy-sell errors occurred for about an hour and a half from the start of trading. After the restoration notice was posted, the system crashed again as orders surged while the impeachment ruling was in progress.
After the consecutive systems failures occurred for two days, Kiwoom Securities conducted a system inspection from 10 a.m. on the 5th until 10 p.m. on the 6th. They are also proceeding with compensation procedures for affected customers.