South Korean brokerages have resumed US stock day trading services on Tuesday after a suspension lasting over a year due to system issues, according to industry sources.
Investors can now trade US stocks through 18 local brokerage firms between 9:00 AM and 5:00 PM local time.
The suspension began on August 5, 2024, after a system failure on the alternative trading platform Blue Ocean led to mass order cancellations by domestic investors. At the time, Blue Ocean was the sole platform handling US stock orders for local brokerages.
This time, Korean brokerages have partnered with other alternative trading platforms, including Bruce and Moon, to prevent similar incidents.
The Korea Financial Investment Association has also mandated that securities firms maintain at least two brokers for contingency purposes and implement investor protection measures.
According to the Korea Securities Depository, South Korean investors hold a total of $155.5 billion in US stocks, accounting for approximately 94% of their overseas equity investments.