Competition on Cyber Stock Trade Heats Up

The competition among securities companies over cyber-transaction fees has heated up.
Daewoo Securities announced on June 13 that it will cut the fees on cyber-transactions to 0.1 percent, the lowest level, regardless of the amount of money involved, beginning June 14. Daewoo had already reduce the commission fee to 0.25 percent from 0.5 percent on May 3.
The leading securities firm also decreased the brokerage fee for KOSDAQ to 0.1 percent from its current 0.4 percent.
The drastic reduction by Daewoo is likely to ripple through the fast-growing online trading market and escalate the battle on fees among securities companies.
On May 3, large-scale securities corporations, such as Daewoo, Hyundai and LG, cut transaction fees by 50 percent, only to see Sejong Securities the next day, May 4, carry out an additional reduction to 0.2 percent.
Jooan Kang : jooan@joongang.co.kr