[비즈한국] Korea Financial Security, a company specializing in the transport of cash and documents, is drawing attention for its entry into new business ventures. Korea Financial Security recently announced its expansion into the pharmaceutical transport business. The company has also shown interest in overseas electric vehicle (EV) dealership operations. While it conducted a pilot sale of EVs last year, the business is currently suspended due to issues regarding government subsidies.
Entry into Pharmaceutical Transport Business
Korea Financial Security was established in 1990 through investments from commercial banks. Its primary business involves the transportation of cash, securities, and important documents for financial institutions.
Korea Financial Security's revenue has remained stagnant for several years. According to audit reports, revenue was 62.8 billion KRW in 2021, 51.2 billion KRW in 2022, 48.6 billion KRW in 2023, 46.1 billion KRW in 2024, and 489 billion KRW in 2025. It is not surprising that the company is venturing into new businesses to expand its revenue.
Korea Financial Security recently announced that it has officially entered the special logistics market for pharmaceuticals and biotechnology. The company's pharmaceutical delivery service is based on a cold-chain system that meets the Korea Good Supplying Practice (KGSP) standards set by the Ministry of Food and Drug Safety. They operate special vehicles that monitor and record temperatures in real-time throughout the entire transport process.
Korea Financial Security expresses confidence in its pharmaceutical transport business. This is because they have a nationwide logistics network and infrastructure, built upon their long history of transportation services. It is reported that they have a significant number of professional delivery agents who have completed specialized security training.
An official from Korea Financial Security stated, "As pharmaceutical delivery is directly linked to patient life and safety, it is a field that requires the same level of precision and responsibility as handling financial assets," adding, "Through thorough Standard Operating Procedures (SOP) and advanced logistics security systems, we will establish ourselves as the nation's premier special logistics partner that pharmaceutical and bio companies can trust."
Current Status of EV Dealership Business
According to the corporate registry, Korea Financial Security added 'wholesale and retail of pharmaceuticals' to its business objectives in March 2024. Therefore, the entry into the pharmaceutical transport business was somewhat anticipated.
Subsequently, in October 2025, it added 'automobile sales, sales brokerage, and import sales' to its business objectives. The field Korea Financial Security intends to enter is the overseas EV dealership business. According to the company, they conducted pilot sales for about two months last year, but it is currently suspended.
Korea Financial Security stated that it is monitoring the situation to determine when to resume the business due to issues with EV subsidies. This is because recent increases in EV sales, driven by high oil prices, have led to cases where local government subsidy budgets were exhausted prematurely.
According to the Ministry of Land, Infrastructure and Transport, the number of registered pure electric vehicles increased by 39.32% from 733,030 in April last year to 1,021,273 in April this year. As demand for EVs is growing, some suggest that once the subsidy issue is resolved, the prospects for Korea Financial Security's EV dealership business will be positive. However, as many companies have already entered the EV dealership market, it will face fierce competition. Since Korea Financial Security is not a specialized car sales company, a competitive advantage cannot be guaranteed.
An official from Korea Financial Security said, "Given the nature of the EV business, where subsidies have a significant impact on purchasing, we have temporarily halted progress and are watching the situation until this issue is resolved," adding, "We plan to review whether to resume the business and future schedules once the subsidy issue is cleared."