Samsung Securities Co., Ltd. (016360) will end unsettled stock purchases for accounts held by minors from Friday. Newsis reported Thursday that accounts for people under 19 will no longer purchase shares beyond their cash balances.
This Korean trading service lets investors pay part upfront and settle the remaining purchase price two days later. KB Financial Group Inc. (105560) unit KB Securities already moved existing minor accounts to full cash settlement on August 31.
Samsung Securities Co., Ltd. (016360) said the change would prevent missed payments and forced sales of stock. The company's market capitalisation was ₩7.8 trillion at Friday's close.
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| Symbol | Last Price |
|---|---|
| 016360Samsung Securities Co., Ltd. | ₩86,800 +0.2% |
| 105560KB Financial Group Inc. | ₩172,000 -3.3% |