SeoulMarkets · data for licence
The Sell rating that vanished
6,372 broker reports · 13 houses · 2026
Korean brokerages rate the stocks they cover, and the rating is almost always the same one. Across 6,372 reports in 2026 the market ran Buy on 79.7% and Sell on 0.06%. House by house it barely moves: of the 13 brokerages that rated at least 200 reports, 10 issued not a single Sell all year.
- What it is — for each brokerage, the share of its reports rated Buy, Hold and Sell, plus the market total and the Sell rate by year.
- Why trust it — every rating is read from a filed, dated broker note we archived, and grouped by the words the house itself used.
- How big — 6,372 rated reports across 13 houses in2026, and a Sell-rate series back more than a decade.
- The honest caveat — houses that issue no rating at all (IR bulletins) are excluded; shown houses filed at least 200 reports and rate the majority of them.
- The form — one CSV: house · reports · Buy% · Hold% · Sell% · rated share. Plus the market total and the by-year Sell series.
① Rating mix, by house
Ranked by Sell rate. It is a short axis: the busiest houses cluster at Buy nine-in-ten, and the Sell column is a row of zeros.
| Brokerage | Reports | Buy | Hold | Sell |
|---|---|---|---|---|
| Hanwha Investment & Securities | 413 | 92% | 6.8% | 0% |
| Hana Securities | 740 | 91.2% | 1.9% | 0% |
| Kyobo Securities | 349 | 90.5% | 0.6% | 0% |
| Daishin Securities | 460 | 88.3% | 3.7% | 0% |
| IBK Investment & Securities | 268 | 87.7% | 0.4% | 0% |
| Eugene Investment & Securities | 446 | 86.5% | 3.4% | 0% |
| iM Securities | 376 | 83.8% | 4% | 0% |
| Shinhan Securities | 703 | 83.6% | 2.7% | 0% |
| SK Securities | 409 | 80.7% | 1.7% | 0% |
| Yuanta Securities Korea | 416 | 77.6% | 1.9% | 0% |
| Kiwoom Securities | 548 | 77.6% | 0.9% | 0.18% |
| Mirae Asset Securities | 501 | 74.3% | 8.4% | 0.2% |
| DS Investment & Securities | 254 | 94.1% | 0.8% | 0.79% |
The most Buy-heavy house rated 92% of its reports Buy with no Sell at all. The few non-zero Sell rates in the table round to a fraction of one percent. Hold, the polite alternative to Sell, has all but disappeared too.
② The Sell rate did not fall — it was already gone
Across the whole archive the market Sell rate has sat near zero for over a decade. This is not a recent shift; it is the standing shape of Korean retail research.
| Year | Reports | Sell rate |
|---|---|---|
| 2014 | 1,872 | 0.05% |
| 2015 | 3,983 | 0.53% |
| 2016 | 4,446 | 0.04% |
| 2017 | 4,556 | 0.04% |
| 2018 | 4,574 | 0.09% |
| 2019 | 4,162 | 0.1% |
| 2020 | 3,450 | 0.29% |
| 2021 | 2,406 | 0.12% |
| 2022 | 3,636 | 0.08% |
| 2023 | 8,473 | 0.15% |
| 2024 | 9,159 | 0.09% |
| 2025 | 9,325 | 0.04% |
| 2026 | 6,372 | 0.06% |
③ What you get
| Files | One CSV — house · reports · Buy% · Hold% · Sell% · rated share. Plus the market total and the by-year Sell series back more than a decade. | |
|---|---|---|
| The grouping | Ratings grouped Buy / Hold / Sell from the words each house filed (매수·중립·매도 and their English equivalents). Notes with no rating fall to "other" and are not counted as any of the three. | |
| Who is shown | Houses with at least 200 reports in the year that rate the majority of them. Rating-free IR bulletins are excluded. | |
| Not accuracy | This is the rating, not whether it was right. Target accuracy is our separate price-target panel. | |
| Source | Our own daily archive of broker research boards. | |
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From our own broker-research archive · Ratings as filed, grouped Buy/Hold/Sell · Rating, not accuracy (see the price-target panel) · Not investment advice. Browse all SeoulMarkets datasets. See our terms of use and refund policy.