Why Proceeds from Stocks Sold on September 23 Settle on 29 After the Chuseok Holiday
If a sale of Korean stocks was executed on Wednesday, September 23, the proceeds will be paid on Tuesday, September 29. This is because the 2026 Chuseok holiday runs from September 24 through 27, and Korean stocks follow the T+2 settlement system, under which trades settle on the second trading day after the transaction date.
Therefore, if you sold stocks on 23 but cannot immediately withdraw the proceeds from your brokerage account, this is part of the normal settlement process under this holiday schedule.
Why Haven't the Proceeds Arrived on 25 If I Sold My Stocks on September 23?
In the Korean stock market, cash settlement is not completed the moment a sell order is executed.
After a stock trade is executed, it goes through clearing and settlement procedures. In the Korean stock market, the settlement date is T+2, with T representing the trade date.
During a normal week without holidays, if stocks are sold on Wednesday, Thursday is T+1 and Friday is T+2.
However, for stocks sold on 2026-09-23, the Chuseok holiday begins the following day.
Wednesday, September 23: Sell order executed, trade date T
September 24–27: Chuseok holiday period
Monday, September 28: T+1
Tuesday, September 29: T+2, payment date for sale proceeds
According to the financial authorities' guidance on the 2026 Chuseok holiday schedule, the payment date for proceeds from stocks sold on September 23 is also postponed from September 25 to September 29.
Although this is 6 days after the sale date on the calendar, it is still T+2 under the settlement rules.
Why Can't I Receive the Money on 28 If the Market Reopens That Day?
September 28 is the first trading day after the holiday, but for stocks sold on September 23, it corresponds to T+1.
Excluding holidays from the T+2 settlement calculation does not mean settlement occurs immediately on the first day after the holiday. 28, the first trading day on which settlement can proceed after 23, counts as the first trading day. Settlement reaches T+2 only on 29, the second trading day.
Understanding this distinction makes it easier to calculate when sale proceeds will be paid during an extended holiday period.
Trade Execution and Withdrawal to a Bank Account Do Not Happen at the Same Time
It is important to distinguish between a stock sale being recorded as executed and the actual completion of settlement.
Once a sell order is executed, the transaction is reflected in the number of shares held and the order history. However, proceeds from Korean stock sales still go through the T+2 settlement process.
Therefore, for stocks sold on September 23, the most accurate approach is to check the `Available to Withdraw` amount in your brokerage app based on settlement on September 29.
Specific settlement processing times may vary by brokerage. To determine what time on September 29 you can transfer the proceeds to your bank account, check the available withdrawal balance and business hours of your brokerage.
Does the Same Schedule Apply to ETFs Sold on September 23?
Korean-listed ETFs are also covered by the financial authorities' guidance for this holiday period.
Payment of proceeds from Korean stocks and ETFs sold on September 23 will be postponed to September 29 because of the Chuseok holiday.
By contrast, ordinary bonds, repurchase agreements (Repos), gold, and emissions allowances, which settle on the trade date, should not be calculated using the same method. The guidance states that proceeds from sales of these products on September 23 can be received on the same day.
The same Korean stock settlement schedule should not automatically be applied to overseas stocks either. Investors should check their brokerage's separate guidance on overseas stock trading and settlement schedules.
What Should I Check in My Brokerage Account?
If you sold Korean stocks on September 23, first check your order history to confirm that the trade was actually executed. The starting point for T+2 is the date the trade was completed, not simply the time you placed the sell order.
Next, on September 29, check the `Available to Withdraw` amount in your brokerage app rather than looking only at the cash balance in your account.
In summary, for Korean stocks sold on 2026-09-23, September 28 is T+1 and September 29 is T+2. The Chuseok holiday does not change the underlying settlement rules. Instead, the actual settlement date moves later because days on which settlement is not processed are excluded from the calculation.
※ This article is provided for informational purposes to help readers understand market procedures and does not constitute an investment recommendation for any specific stock or asset. All final investment decisions and responsibilities rest with the individual investor.