Daewoo Securities launches first robo-adviser market

KDB Daewoo Securities launched the nation’s first market for automated investment services on Monday, where individual investors can pick one from seven artificially intelligent investment models engineered by four local investment advisory firms.

Participating firms include December & Company, Quarterback, Value System and Summit Investment Management.

Unlike conventional entrusted investment services offered at investment advisory firms, customers with small amounts of money - as little as 5 million won ($4,300) - can sign up for the new product. The automated system adjusts depending on ups and downs in the capital market by allocating money in exchange-traded funds both in and outside Korea