Shinhan Bank Offers Robot Vacuum and Other Prizes to ISA Account Subscribers

Coffee Coupons and Prize Draws for ISA Account Subscribers
Expanded Eligibility and Tax Benefits Through System Reform
Automatic Entry for In-Person and Online Sign-Ups via Shinhan SOL and Others

[Asia Economy Reporter Kangwook Cho] Shinhan Bank announced on the 18th that it will hold the ‘Easier ISA’ event, offering coffee coupons and prizes through a raffle to customers who subscribe to the Individual Savings Account (ISA).

ISA is a tax-advantaged product introduced in 2016 to support comprehensive personal asset management in a low-interest-rate era. Within an annual deposit limit of 20 million KRW, customers can invest in various financial products such as savings deposits, funds, and equity-linked securities (ELS), receiving tax exemption benefits on earnings up to 2 million KRW, and a separate tax rate of 9.9% (including local income tax) on earnings exceeding 2 million KRW.

Especially from this year, the scope of eligible subscribers has expanded and the tax benefit requirements have been relaxed due to amendments to the Restriction of Special Taxation Act.

Previously, only residents with earned income or business income could subscribe, but from this year, residents aged 19 or older can subscribe even without income, and residents aged 15 to under 19 can subscribe if they have earned income. The mandatory subscription period has also been shortened from 5 years to 3 years. Additionally, the annual deposit limit can be carried over, allowing flexible deposits of up to 20 million KRW per year and a maximum of 100 million KRW over 5 years.

Shinhan Bank will provide a Coffee Bean Vanilla Latte coupon to all new ISA subscribers depositing 100,000 KRW or more until the end of February, and through a raffle, offer 1st prize: LG CordZero Robot Vacuum Cleaner (1 winner), 2nd prize: Emart 50,000 KRW gift certificate (10 winners), and 3rd prize: Coffee Bean dessert set (100 winners).

This event is automatically entered when subscribing to ISA through Shinhan Bank branches, Shinhan SOL, or internet banking.

A Shinhan Bank official said, "We prepared this event so that customers planning their financial strategies for the new year can receive more tax benefits through ISA," adding, "We hope customers will plan their lump-sum savings through ISA, which has returned with ‘easier subscription’ and ‘more tax benefits’ thanks to the system reform."

This content was produced with the assistance of AI translation services.