[Young journalist Yohwan Kim] Shinhan Investment Securities is moving to completely restrict margin trading in accounts held by minors. The measure aims to prevent minor investors from facing unpaid settlement obligations and forced liquidation risks, reflecting a broader trend across the securities industry to prevent minors from engaging in leveraged investing.

According to the financial investment industry on September 10, Shinhan Investment Securities will restrict margin trading in accounts held by minors under the age of 19 starting October 12. After the measure takes effect, minors will no longer be able to purchase stocks using margin, meaning they cannot buy shares exceeding the amount of cash they currently hold.
 
Margin trading is a system in which a securities firm temporarily covers part of an investor's stock purchase cost, with the investor required to deposit the remaining amount by the settlement date. While this allows investors to purchase more stocks than their available cash would normally permit, failure to pay the outstanding balance by the settlement deadline results in a margin debt. The securities firm may then forcibly sell the investor's shares, a process known as a forced liquidation.
 
Shinhan Investment Securities plans to apply a 100% margin requirement to accounts held by minors, allowing trades only within the amount of cash available. The restriction will apply not only to new aaplications but also to existing accounts that previously used margin trading, provided the account holder is still a minor as of the effective date.

However, investors should be aware that if a margin purchase order was executed before the effective date, a margin debt may still arise on the settlement date. Once minor customers reach adulthood, they may separately apply for margin trading.
 
This act follows a recent trend in which securities firms have successively restricted high-risk transactions for minor investors. KB Securities first restricted margin trading for newly opened minor accounts in July and subsequently expanded the restrictions to existing accounts. Samsung Securities also began restricting margin trading for customers under 19 this month.
 
In particular, as cases of excessive margin trading in minor accounts relative to the scale of investment have been identified, calls have grown within the industry for separate protective measures. Even when accounts are opened by legal guardians, minors may still be exposed to the risks of margin debt and forced liquidation during actual trading.

As participation by minors in the stock market increases, the securities industry believes that investor protection systems are shifting away from simply expanding account access toward managing risks at the trading stage.
 
An industry official said, “Because minors may have relatively limited investment experience and risk tolerance, efforts to prevent transactions exceeding their available funds are spreading across the industry. Risk management standards for minor accounts are likely to become stricter in the future.”

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