According to Yonhap Infomax, on November 11, South Korea's Fair Trade Commission imposed a total fine of 1.376 trillion won on 10 securities companies for collusion in government bond auctions. KB Securities and Kiwoom Securities have revised their third-quarter earnings to reflect the penalties in full.

KB Securities' net profit for Q3 swung from a projected 273 billion won to a 59.1 billion won loss after the 332.2 billion won fine. The company's cumulative first-nine-months profit fell to 741.9 billion won from 1.074 trillion won. Kiwoom Securities' Q3 net profit declined 60.8 billion won to 177.8 billion won following an 83.8 billion won penalty.

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