Kiwoom Securities Hosts 'Overseas Futures and Options Real Investment Competition'

Kiwoom Securities announced on the 5th that it will hold the 'Overseas Futures and Options Real Trading Competition.'

Anyone with an overseas futures and options account can participate in this competition. The total prize money amounts to 36 million KRW. The application period was about 10 weeks, from April 24 to May 1. The competition period runs for about 8 weeks, from May 10 to May 2. After applying for the competition, participants who trade at least one contract will be entered into a draw to receive coffee coupons for 200 people.

This real trading competition is divided into two categories: rate of return and profit. A total of 24 participants will be selected over 8 weeks, ranking 1st to 3rd in each category, with the possibility of winning multiple times each week.

In the rate of return and profit categories, weekly prizes of 1 million KRW for 1st place, 700,000 KRW for 2nd place, and 300,000 KRW for 3rd place will be awarded. The maximum prize amount per customer is 3 million KRW. Customers are responsible for a 4.4% tax on the prize money for the rate of return and profit competitions.

Additionally, a special event will be held where one customer who trades more than 1,000 contracts weekly will be selected by lottery to receive 500,000 KRW in cash. Only overseas futures and options trading contracts of competition participants are counted. The number of U.S. stock options contracts is counted as double, and micro product contracts are counted as 0.2 contracts.

Taxes of 22% on amounts exceeding 50,000 KRW are the responsibility of the customer, and duplicate weekly winnings are not allowed. However, multiple wins per week are possible in the rate of return and profit categories.

A Kiwoom Securities representative said, "Through this competition, overseas futures investors can gain real trading experience and engage in more strategic trading with various benefits provided," adding, "We will continue to offer diverse investment opportunities that satisfy our customers."

For more details about the Overseas Futures and Options Real Trading Competition, please visit the Kiwoom Securities website or contact the Kiwoom Financial Center.