Korea depository launches campaign for 45.1 bln won in unclaimed stock payouts
In short
Korea Securities Depository began an eight-week campaign on Oct. 6 to return dividends and shares owed to holders of unregistered physical stock certificates. As of end-September, about 45.1 billion won in cash and some 2.32 million shares are unclaimed. Four brokerages — NH Investment, Mirae Asset, KB and Samsung — are taking part.
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Korea Securities Depository said it is running a campaign to return unclaimed dividends, bonus shares and other payouts generated by 실기주 — physical share certificates that investors withdrew from a broker but never re-registered under their own names. Asia Economy reported the campaign runs through November, while Yonhap said it runs for eight weeks from Oct. 6 to Nov. 30. [ 1 , 2 ]
The depository put the unclaimed total at about 45.1 billion won in cash and about 2.32 million shares as of the end of September, according to both outlets. Asia Economy added that the cash figure includes 28.6 billion won in contributions to the Korea Inclusive Finance Agency, a detail Yonhap did not report. [ 1 , 2 ]
The depository said it has run the campaign regularly since 2018, and that over the past five years it returned 80,300 shares and roughly 4.53 billion won to holders. Asia Economy quoted the depository as saying it plans to keep working to protect what it called the public's valuable property rights by strengthening co-operation with brokerages and reviving the return of forgotten financial assets. [ 1 , 2 ]
This year NH Investment & Securities, Mirae Asset Securities, KB Securities and Samsung Securities are taking part. Both outlets said the depository will give each brokerage information on physical certificates delivered through it in the past, and the brokers will tell affected investors how to check and claim their payouts. Asia Economy said the four were selected based on share delivery volumes and return records over the past decade, and that they will use their own online and offline channels to publicise the lookup and claim process during the campaign. [ 1 , 2 ]
Investors can check whether they are owed anything through the depository's online 실기주과실 lookup service, both reports said. [ 1 , 2 ]
Why it matters
The campaign concerns money and shares that investors have already earned but never claimed, so for affected households it is a direct recovery of assets. It also puts the depository's coordination with major brokerages on display, and the outcome will be measured by how much of the 45.1 billion won and 2.32 million shares is actually returned. For readers elsewhere, the mechanics of Korea's physical share-certificate system are specific to this market.
Key facts
- Korea Securities Depository is running the “찾아주기” campaign to return unclaimed payouts and shares from 실기주 — physical share certificates that investors withdrew from a brokerage but did not re-register in their own names. [ 1 , 2 ]
- As of the end of September, unclaimed cash from these holdings totalled about 45.1 billion won and unclaimed shares about 2.32 million, the depository said. [ 1 , 2 ]
- The cash figure includes 28.6 billion won in contributions to the Korea Inclusive Finance Agency, according to Asia Economy. [ 1 ]
- The depository said it has run the campaign regularly since 2018 and has returned 80,300 shares and about 4.53 billion won to holders over the past five years. [ 1 , 2 ]
- NH Investment & Securities, Mirae Asset Securities, KB Securities and Samsung Securities are co-operating on investor outreach this year, selected on recent delivery volumes and past return records. [ 1 , 2 ]
- Investors can check whether they are owed anything through the depository's online lookup service, and brokerages will guide them on how to claim. [ 1 , 2 ]
Confirmed by several sources
- Unclaimed cash and shares from unregistered physical certificates stood at about 45.1 billion won and about 2.32 million shares at the end of September. [ 1 , 2 ]
- The depository has run the campaign regularly since 2018, returning 80,300 shares and roughly 4.53 billion won over the past five years. [ 1 , 2 ]
- NH Investment, Mirae Asset, KB Securities and Samsung Securities are the four brokerages taking part this year. [ 1 , 2 ]
- Investors can verify unclaimed payouts via the depository's online lookup service. [ 1 , 2 ]
Still unclear
- The exact length and end date of the campaign. Yonhap says it runs for eight weeks from Oct. 6 until Nov. 30, while Asia Economy says only that it runs through November.
- The 28.6 billion won in contributions to the Korea Inclusive Finance Agency. Only Asia Economy states this figure; Yonhap does not mention it.