Korea Securities Depository launches next-generation system Phase 1, eyes Phase 2 start next year

Korea Securities Depository said Monday it has completed Phase 1 of its next-generation system project and launched two new platforms: the Global Securities Investment Support System (G-SAFE) and the Securities Agency System (K-TA).

The depository began the next-generation system project in April 2024, dividing the work into two phases.

G-SAFE was designed to respond to changes in global regulatory regimes and adopt international standards. The depository overhauled its account ledger framework to allow detailed management of foreign securities holdings, settlement records and rights information. It also established a round-the-clock operating structure that accounts for the trading hours of 41 overseas securities markets.

The depository provides foreign securities investment support services covering the custody, settlement and exercise of rights related to foreign securities transactions by domestic investors.

K-TA focuses on improving service stability, including schedule management for issuing companies. The system applies a range of new technologies to reduce manual errors and automate workflows. Enhanced features on the securities agency website also improve service accessibility for both issuing companies and individual shareholders.

The securities agency system is a financial infrastructure that electronically handles share issuance and other stock-related agency tasks on behalf of issuing companies, including listed corporations.

The depository said Phase 1 has brought significant innovation to its IT infrastructure by creating an environment that makes it easier to apply new technologies such as AI to its operations. The adoption of versatile system software has also improved maintenance stability and development productivity.

The depository said Phase 2 will cover 25 business services, public-facing services, a data platform build-out and further IT infrastructure upgrades. It plans to begin Phase 2 in early next year, with a target launch in the first half of 2029 following development and testing.