Meritz Securities has received Financial Services Commission approval to issue short-term notes and designation as a comprehensive financial investment business entity, becoming South Korea’s ninth licensed issuer. The approval came about one year and two months after its initial application and follows reviews of suspected unfair trading involving Ehwa Electric bonds with warrants and allegedly improper branch-hub business practices. Meritz had 8.35 trillion won in separate-basis equity capital at the end of the first half, allowing it to issue up to about 16.7 trillion won of short-term notes under the 200% ceiling. The products have maturities of up to one year and allow securities firms to use customer funds as investment capital. Outstanding notes totaled 55.93 trillion won at the end of the first half, up 9.1% from year-end, while balances at three recent entrants reached 3.11 trillion won. Meritz must provide venture capital equal to 10% of funds raised this year, rising to 20% next year and 25% in 2028. The company also meets the 8 trillion-won equity threshold for an integrated management account business and could apply for that designation after maintaining the level for two years.