Korea Investment & Securities Surpasses 200 Billion KRW in Retirement Pension Asset Transfers

Korea Investment & Securities announced on the 16th that the amount of lump-sum transfers in retirement pensions exceeded 200 billion KRW as of the 12th. This achievement was made within 31 business days since the implementation of the lump-sum transfer system on October 31, showing steady growth by surpassing 100 billion KRW within two weeks of the system's launch and reaching 160 billion KRW by the end of November.

Korea Investment & Securities Headquarters. Korea Investment & Securities

By retirement pension type, 127.5 billion KRW was transferred from Individual Retirement Pensions (IRP), and 73.9 billion KRW from Defined Contribution (DC) plans, with more than 3,000 new accounts opened. On average, over 100 accounts were opened daily, with an average transfer amount of approximately 62 million KRW per account.

In particular, account transfers through non-face-to-face channels were active. IRP accounts opened remotely accounted for 61% of all transferred accounts and 36% based on the amount of transferred assets. This is attributed to the simplified platform environment and improved accessibility.

Additionally, an analysis of the sources of transferred assets showed that accounts transferred from banks made up the largest portion at 59%, while accounts transferred from other securities firms accounted for 37%. The composition of transferred assets by product was highest in time deposits at 25%, followed by Exchange-Traded Funds (ETF) at 24%, funds at 21%, and cash at 17%.

Korea Investment & Securities offers a variety of investment products and portfolios, including approximately 800 ETFs. They have set ETF trading commissions to zero to minimize customer burden and support an ETF installment automatic investment service that allows customers to automatically purchase desired ETFs monthly.

Hong Deok-gyu, Head of the Retirement Pension Division, stated, "We actively reflect customers' investment needs that consider both stability and profitability by providing various financial products and services. Based on this, we plan to further strengthen our position in the retirement pension market and continuously provide differentiated financial services to our customers."