KakaoPay Securities Surpasses 1 Trillion KRW in Deposits Amid Overseas Stock Popularity

"Strengthening Product Diversification and a Virtuous Cycle Structure for Deposits"

Kakao Pay Securities announced on the 24th that its deposits surpassed 1 trillion won as of the 21st.

Kakao Pay Securities cited the maximum 5% interest benefit provided since last year, the activation of U.S. stock trading, and the convenient usability of the comprehensive account as the main factors driving the increase in deposits. Currently, Kakao Pay Securities' comprehensive account pays a basic annual interest rate of 2.5% before tax on deposits up to 300,000 won, and an additional 2.5% interest is paid when users press the 'Receive Interest' button in the Kakao Pay app.

In particular, Kakao Pay Securities' comprehensive account minimizes procedures when subscribing to new investment products, providing an efficient trading environment without complicated additional authentication processes.

For example, in the case of the recently launched pension savings product, users holding a comprehensive account can complete the subscription process in just a few seconds, excluding the time for providing personal information and agreeing to terms and conditions. Based on this convenience, 50,000 pension savings accounts were achieved within three weeks.

Kakao Pay Securities aims for continuous growth in deposits next year as well. To this end, it plans to maintain the deposit growth trend by establishing a virtuous cycle structure through expanding its product portfolio and increasing user assets.

Shin Ho-cheol, CEO of Kakao Pay Securities, said, “This year, the favorable U.S. stock market strengthened the pattern of many users reinvesting their assets by earning investment profits,” adding, “This experience positively impacts user satisfaction and the scale of deposits, forming a solid foundation for achieving next year’s deposit goals.”