(Seoul=NSP NEWS) = Daishin Securities signed a memorandum of understanding (MOU) on July 1 with Alpaca, a U.S.-based brokerage firm, for cross-border business cooperation.

Under the agreement, the two companies will pursue collaboration across a wide range of global investment businesses, including omnibus account services for foreign investors, U.S. stock brokerage, entry into new markets, and the development of investment products.

This year, Korea’s securities industry has seen a growing number of firms partnering with global brokers to improve foreign investors’ access to the domestic stock market and expand their global retail investor base.

In May, Samsung Securities launched an omnibus account service for foreign investors in partnership with U.S. online brokerage Interactive Brokers (IBKR). Eugene Investment & Securities also announced on July 3 that it had signed an MOU with Alpaca related to omnibus account services, signaling its strategy to expand its foundation for attracting overseas investors.

Daishin Securities said its latest partnership is also aimed at improving access to the Korean stock market for global brokers and overseas investors. The company added that it plans to pursue broader global business cooperation, including support for U.S. stock brokerage services for domestic institutional and retail investors, entry into new markets, and the development of investment products.