Samsung Securities announced on January 22 that it will hold a "Pre-registration Event for the Launch of RIA Accounts" for domestic individual customers who hold overseas stocks, from January 26 to January 30.
An RIA account is an account that provides temporary overseas stock capital gains tax benefits when long-term investments are made in domestic stocks after converting the proceeds from selling overseas stocks into Korean won.
Samsung Securities conducted a preliminary customer survey to gauge awareness and demand for RIA accounts. According to the survey results, 81% of respondents were at least somewhat aware of RIA accounts, 65% expressed an intention to utilize tax benefits through RIA accounts in the future, and 69% indicated a willingness to sell overseas stocks and invest in domestic stocks for RIA tax benefits. Overall, investor interest in RIA accounts was high.
To meet this customer demand for RIA accounts, Samsung Securities is holding the "Pre-registration Event for the Launch of RIA Accounts."
Customers who register for the event will receive a notification when Samsung Securities launches the RIA account. If they open an RIA account thereafter, the first 30,000 customers will receive a cash reward. The reward amount is randomly assigned, ranging from 5,000 won up to 100,000 won.
A Samsung Securities representative said, "As the valuation appeal of the Korean stock market is being reassessed, we expect to see increased long-term investment in Korean stocks through RIA accounts."
For more details about the "Pre-registration Event for the Launch of RIA Accounts," please refer to the Samsung Securities website or the mobile app 'mPOP.'
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
