Kakao Pay Securities Surpasses 500,000 Securities Account Openings

The 20s and 30s Generations Account for 68.4% of All Subscribers

[Asia Economy Reporter Jin-gyu Lee] Kakao Pay Securities announced on the 25th that the number of securities accounts opened through the upgrade of Kakao Pay Money has exceeded 500,000.

Kakao Pay Securities officially launched the securities account upgrade service on the 27th of last month. By subscriber age group, the 20s and 30s, who have a high usage rate of mobile platforms and relatively less experience with securities services, accounted for 68.4% of the total. In particular, the proportion of young adults (ages 25-34), who are increasingly interested in asset management, reached 39.2%. Those aged 50 and above, previously considered a mobile finance marginalized group, accounted for 8.9%.

Due to the convenience of the platform, which is not restricted by securities firms' business hours, account opening times were flexible. The proportion of accounts opened outside business hours, from 4 PM to 8 AM on weekdays, was 46.4%, and one in four opened accounts on weekends.

Meanwhile, Kakao Pay Securities will pay up to 5% per annum (before tax), higher than market interest rates, weekly on account balances where Kakao Pay Money is automatically deposited until May 31. It also offers benefits such as unlimited holding limits and deposit protection (up to 50 million KRW per person).

Kim Dae-hong, CEO of Kakao Pay Securities, said, "We plan to introduce a unique investment method on the Kakao Pay platform soon that can be enjoyed without specialized financial knowledge," adding, "We will create a new investment culture that has not been experienced in existing securities services."

This content was produced with the assistance of AI translation services.