Mirae Asset Securities Cuts Rates on Loans Secured by Securities Sold by Up to 2 Percentage Points... Strengthens Customer Protection

Effective November 2
Annual rate of 5.95% on amounts of up to KRW 30 million

Mirae Asset Securities said it will cut interest rates on loans secured by securities sold by up to 2 percentage points starting November 2 to reduce customers' interest burden. This follows a previous cut in July, when the annual rate was lowered from 9.0% to 7.95%.

The rate, currently set uniformly at 7.95% per year, will instead vary according to the amount used each day. The annual rate will be 5.95% on amounts of up to KRW 30 million and 7.45% on amounts above KRW 30 million. These rates are down 2 percentage points and 0.5 percentage points, respectively, from the previous rate.

The rate adjustment reflects customers' actual usage patterns. Mirae Asset Securities analyzed the daily amounts used by customers who took out loans secured by securities sold in July and August this year and found that most used KRW 30 million or less. The company therefore increased the size of the rate cut in the usage bracket where customers are concentrated, enabling more investors to benefit from lower rates.

Mirae Asset Securities said it decided on the additional rate cut to ease customers' financial burden and strengthen investor protection amid continued market volatility and uncertainty.

A Mirae Asset Securities representative said, "We decided on an additional rate cut that reflects actual usage amounts to ease customers' interest burden and strengthen investor protection. We will continue to work to provide financial services that enable customers to pursue their investment activities with confidence."

This content was produced with the assistance of AI translation services.