Korea Investment & Securities, Bankis ISA Subscription Event

[Asia Economy Reporter Junho Hwang] Korea Investment & Securities, a subsidiary of Korea Financial Group, will hold a BanKIS Individual Savings Account (ISA) subscription event starting from the 2nd. BanKIS is Korea Investment & Securities' online trading service that can be opened non-face-to-face or through commercial banks.

Korea Investment & Securities will give one share of a domestically listed ETF (Exchange Traded Fund) to all subscribers who open a BanKIS ISA account for the first time and deposit more than 500,000 KRW by the end of the year. Additionally, regardless of whether they are existing or new customers, a cash reward of up to 100,000 KRW will be provided based on the ISA deposit amount. Customers who transfer ISA assets will receive an additional 10,000 KRW.

Until the end of this month, a 'Tax-saving Product Operation Event' is also underway, which provides mobile gift certificates when investing in funds or ETFs through ISA. Since multiple applications are allowed, using the events together can provide more benefits.

ISA is a representative tax-saving product where up to 4 million KRW (2 million KRW for the general type) is tax-exempt, and a low separate taxation rate of 9.9% is applied to the excess amount. With taxation on financial investment income over 50 million KRW scheduled from 2023, profits from domestic listed stocks and public stock-type funds invested through ISA can receive full tax exemption benefits.