[허정수칼럼] 후발주자 우리투자증권이 사는 길

Woori Investment & Securities employs a capital-first strategy to access corporate finance licenses and leverage its parent company's financial muscle, contrasting with Toss Securities' profit-driven approach. By aggressively building its balance sheet through consecutive capital injections, the company aims to unlock regulatory approvals for commercial paper issuance and investment management accounts. However, capital expansion alone does not guarantee profitability; achieving the 2030 target of 10% ROE in a saturated investment banking market remains a significant challenge.