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Eugene Investment & Securities (Photo courtesy of Eugene Investment & Securities) |
[Alpha Biz= Kim Jisun] Eugene Investment & Securities has initiated a voluntary resignation program for selected employees as part of organizational streamlining efforts. Despite record-breaking highs on the KOSPI, the mid-tier brokerage has struggled to fully benefit from favorable market conditions, with profits shrinking significantly since the pandemic-driven liquidity boom.
According to industry sources on September 11, the company recommended voluntary resignations to some employees the previous day. While the process is not compulsory without employee consent, it is often perceived as pressure to leave. The move follows an external management consulting review that reportedly advised workforce reduction.
A company representative stated, “We are proceeding with the program in consideration of our mid- to long-term business strategy and past performance of the organization.”
Eugene’s operating profit, which exceeded KRW 100 billion in both 2020 and 2021, fell to KRW 58.3 billion last year. In contrast, large securities firms such as Korea Investment & Securities continue to report record profits, widening the performance gap. With financial authorities focusing new business opportunities—such as integrated investment accounts (IMA) and issuance programs—on large brokerages, smaller players like Eugene face mounting structural challenges.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
