Korea Securities Depository

What Korea Securities Depository does

Korea Securities Depository (KSD, 한국예탁결제원) is South Korea's designated central securities depository and electronic registration agency, operating as a systemically important financial market infrastructure institution under Korean capital markets law. Founded in 1974 as Korea Securities Clearing Corporation and rebranded to its current name in 2009, KSD provides custody, clearing, settlement, and electronic registration services for the entire Korean securities market. The company serves financial institutions including securities companies, asset management companies, banks, insurance companies, pension funds, and listed companies, operating through its headquarters in Busan and regional customer centers in Seoul, Daejeon, Gwangju, and Daegu.

KSD's core technology platform is the Electronic Securities System implemented in September 2019, which dematerialized securities through electronic registration accounts, eliminating physical certificates. Supporting platforms include e-SAFE/SAFE+ for securities operations and account management, FundNet as the fund computer network hub connecting asset managers, custodians, and sales companies, and specialized services for securities lending and borrowing intermediation, global custody across 40 markets, electronic voting (K-VOTE), and transfer agent services. The company holds six patents covering securities tokenization technologies including DLT database management, cross-platform compatibility, and cash token management.

KSD generates revenue through transaction fees on depository, settlement, and clearing services, electronic registration fees, securities lending and borrowing intermediation fees, and fees from ancillary services like KOFR (Korea Overnight Financing Rate), LEI-K (Legal Entity Identifier), and transfer agent services. Pricing is regulated by Korean financial authorities rather than market-driven. The company distributes services directly to financial institutions through its electronic platforms and regional customer centers, with no intermediaries or resellers. KSD's wholly-owned subsidiaries span bond management, venture investment systems, crowdfunding, securities museum, and social contribution foundation, reflecting its diversified operating footprint.

Name

Korea Securities Depository

Legal name

Korea Securities Depository (한국예탁결제원)

Website

https://ksd.or.kr

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Korea Securities Depository (KSD) is South Korea's designated central securities depository and electronic registration agency, providing custody, clearing, settlement, and electronic registration services to financial institutions including securities companies, asset managers, banks, insurers, and listed companies across domestic and 40 global markets.

Ownership category

akta.pro rank

Product category

Central Securities Depository Services

NAICS

Investment Banking and Securities Intermediation (523150)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

National CSDs & Domestic Settlement Systems (FSAFAGAA)

akta.pro secondary industries

Central Securities Depository (CSD) & ICSD SFT Services (FSACAIAL), Securities Safekeeping & Asset Servicing (Core Custody Ops) (FSACAHAF), International CSDs (ICSDs) (FSAFAGAB)

Keywords

• Central securities depository
• Electronic securities registration
• Fund settlement services
• Securities lending intermediation
• Post-trade clearing services

Headquarters

HQ city

Busan

HQ country

South Korea

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure

Revenue model

1. Securities Depository and Settlement Services: Fees for securities custody, clearing and settlement services provided to financial institutions including securities companies, banks, and asset management companies.
2. Electronic Registration Services: Fees for electronic registration of securities including stocks, bonds, and other securities.
3. Securities Lending and Borrowing Intermediation: Intermediation fees for securities lending and borrowing transactions between lenders and borrowers.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Korea Securities Depository (KSD) is South Korea's central securities depository, providing electronic registration, custody, clearing, and settlement of securities through proprietary platforms such as e-SAFE and FundNet. It also operates global depository services spanning 40 markets, securities lending and borrowing (SLB) intermediation, transfer agent services, electronic voting, and market data infrastructure such as KOFR.

Product overview

Korea Securities Depository (KSD, 한국예탁결제원) operates as a systemically-important financial market infrastructure providing comprehensive securities services through a platform-plus-modules architecture. The core offering is the electronic securities system (전자증권제도), which enables electronic issuance, registration, transfer, and management of securities without physical certificates through the e-SAFE/SAFE+ platform. Supporting this core are specialized services including FundNet for collective investment securities processing, global depository settlement across 40 markets, securities lending and borrowing intermediation, and stock agency/transfer agent services. The product portfolio also includes specialized sub-products such as K-VOTE for electronic voting, CrowdNet for crowdfunding, LEI-K for legal entity identification, KOFR as the risk-free benchmark rate, SEIBro securities information portal, RP Inside for repo market monitoring, and the VentureNet system for venture investment market automation. KSD's services span the entire securities lifecycle from issuance through settlement, custody, and corporate actions, serving issuers, investors, financial institutions, and regulatory bodies across both domestic and international markets.

Differentiator

Problem solved

Functional benefit

Brands

• FundNet: Fund computer network hub for asset management (collective investment) market
• SEIBro
• LEI-K
• K-VOTE
• CrowdNet
• KOFR
• RP인사이드
• e-SAFE

Products and services

• Electronic Registration Issuance Registration System Electronic platform for registering issuance, transfer, and circulation of securities, replacing paper certificates for securities companies, issuers, and investors in Korea.
• FundNet

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• ClearstreamcoreStrategic or Co-development Partner · 30 August 2023Signed agency agreement to establish and operate omnibus account system for Korea Treasury Bonds (KTBs) and Monetary Stabilization Bonds (MSBs). The omnibus account enables integrated custody and management of Korean government bonds on behalf of offshore investors without requiring segregated accounts in Korea.
• EuroclearcoreStrategic or Co-development Partner · 28 August 2023Signed CSD agreement to establish and operate omnibus account services for Korea Treasury Bonds and Monetary Stabilization Bonds. Enables offshore investors to access efficient and safe settlement of local Korean government bonds.
• Korea Financial Investment Association (KOFIA)minorStrategic or Co-development Partner · 1 December 2022KSD contributed to launching Nextrade, an alternative trading system (ATS) business entity. KSD will be responsible for settlement of ATS transactions once approved.
• Global Custodians (Citibank, J.P. Morgan, HSBC, State Street Bank, BNY Mellon)coreTechnology or IntegrationPartnership with major global custodian banks for cross-border securities custody and settlement services.
• Korea Exchange (KRX)coreTechnology or IntegrationSystem linkage for securities issuance and settlement operations. KRX is a key participant in KSD's electronic securities issuance registration system.
• Bank of Korea (BOK)coreTechnology or IntegrationSystem linkage for securities settlement funds transfer through BOK-Wire system, and electronic short-term bond operations.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hong Kong Securities Clearing Company (HKSCC): Subsidiary of Hong Kong Exchanges and Clearing providing clearing and settlement for the Hong Kong stock market. Comparable as an Asian CSD serving a developed capital market with similar institutional participant base.
• DTCC (Depository Trust & Clearing Corporation): The dominant US CSD and securities settlement infrastructure operator. Directly comparable to KSD as a systemically important central securities depository providing custody, clearing, settlement, and asset servicing to capital market participants; KSD's FundNet is even directly connected to DTCC systems for cross-border fund processing.
• Clearstream: The second major ICSD, part of Deutsche Börse Group. Signed agency agreement with KSD in August 2023 to establish omnibus account services for KTBs/MSBs. Functionally comparable as a cross-border securities settlement, custody, and collateral management infrastructure provider.
• Central Depository (Singapore) - CDP: Singapore's national CSD operating under the Monetary Authority of Singapore's oversight. Provides securities settlement, depository, and related services to the Singapore capital market. Regional peer with directly analogous CSD mandate and product set.
• Japan Securities Depository Center (JASDEC): Japan's national CSD, providing book-entry settlement, custody, and securities services for the Japanese capital market. Closest geographic and functional peer to KSD, operating the analogous regulatory-mandated infrastructure role in an Asian developed market.
• Euroclear: One of the world's two major International CSDs (ICSDs). KSD signed a CSD agreement with Euroclear in August 2023 for Korean Treasury Bond omnibus account services. Comparable business model of providing settlement, safekeeping, and asset servicing across multiple jurisdictions.

Emerging players

• National Securities Depository Limited (India - NSDL): India's leading CSD providing dematerialized securities settlement, custodial services, and electronic voting. Comparable as an Asian market CSD with similar electronic securities infrastructure model; KSD has exported technology to neighboring markets like Indonesia (KSEI).
• KSEI (Kustodian Sentral Efek Indonesia): Indonesia's national CSD that received fund system technology exports from KSD in 2016. Comparable emerging-market CSD peer with direct historical technology relationship to KSD.

Regional players

• CREST (now part of Euroclear UK & International): The UK CSD for equities and bonds, now integrated into Euroclear. Comparable as a developed-market CSD providing electronic settlement for capital markets; comparable regulatory and operational model to KSD for UK market participants.

Broad incumbents

• China Securities Depository and Clearing Corporation (ChinaClear): China's national CSD providing securities registration, custody, and settlement. Comparable scale and statutory mandate, though operating in a distinct regulatory environment. KSD's relationship with the broader Asia-Pacific CSD Group (hosted by KSD since 2017) positions it as a peer at this regional level.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCCkOHu8cifMUsfrlv2tBB_A
• Instagraminstagram.com/ksd._.official
• Xx.com/ksd_hr
• LinkedInlinkedin.com/company/ksd-korea-securities-depository-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Korea Securities Depository