South Korea's Top 10 Brokers Earn 175.36 Billion Won From Margin Loans Over 3 Years

According to financial regulators' data submitted to South Korea's National Assembly, the country's 10 major brokerages earned 175.36 billion won from margin loans on sale proceeds (매담대) between 2023 and 2025. Earnings surged to 65.92 billion won in 2025, a 29.6% jump from 50.86 billion won in 2024.

In just four months through April 2026, the 10 brokers earned 53.6 billion won—already exceeding 2024's annual revenue. Kiwoom Securities led with 36.52 billion won, while Mirae Asset generated 16.8 billion won; the two firms captured 90.7% of total revenue. Interest rates range from 9% to 10%, though Mirae Asset recently lowered its rate to 7.95%. South Korea's audit office has launched an investigation into the appropriateness of these rates, and lawmakers are preparing legislation to require brokers to disclose rate-setting criteria.