Kiwoom Securities, Online Balance of Pension ETFs and Pension Funds Surpasses 100 Billion Won

[Asia Economy Reporter Oh Ju-yeon] Kiwoom Securities announced on the 10th that as of the 8th, the online balance of pension ETFs and pension funds exceeded 100 billion KRW.

According to Kiwoom Securities, interest in non-face-to-face (untact) services since the outbreak of COVID-19 has extended to online investments, and as awareness of actively managing pensions has increased, the number of investors in pension ETFs and pension funds is growing.

Of the 100 billion KRW online balance in pension ETFs and pension funds, about 55 billion KRW, which is more than 50% of this year’s increase, was added, and the number of pension accounts also rose by 140% compared to 7,000 accounts at the end of 2019, reaching 17,000 accounts. This suggests that transactions of pension ETFs and pension funds online will continue to increase steadily.

Kiwoom Securities aims to enter the online asset management market in the future. They plan to open a system in March next year that provides customized asset management services using artificial intelligence (AI). Based on the platform competitiveness that holds the number one market share in the stock market, they plan to target the younger customer base in the online asset management market.

Additionally, Kiwoom Securities is conducting a "Year-end Tax Settlement Preparation Pension ETF and Pension Fund" event until December 31.

This event offers a total benefit of 30,000 KRW, including a fund coupon (one 10,000 KRW coupon) and an integrated mobile gift certificate (up to 20,000 KRW), to customers who purchase pension funds and TIGER ETFs or KODEX ETFs for the first time through a pension savings account. Depending on the net increase amount, department store gift certificates (up to 70,000 KRW) will also be provided. Furthermore, for the BBIG (Bio, Battery, Internet, Game) related event, the first 1,000 customers who make an initial transaction of 100,000 KRW or more in the target TIGER ETFs will receive a Starbucks Americano gifticon as an additional benefit.

A Kiwoom Securities official stated, "For customers who have not prepared a pension or who want to transfer pensions held at other financial companies, we hope this event provides a good opportunity to trade while receiving benefits." He added, "Kiwoom Securities currently does not charge upfront sales fees for Ae Class funds being sold, so even if you subscribe to the same fund, you can do so at a lower cost."

The pension savings account is a tax-saving account that allows a tax credit of up to 660,000 KRW annually (up to 990,000 KRW annually for those aged 50 or older who deposit 6 million KRW). Through Kiwoom Securities, direct investment in pension funds and pension ETFs is possible via the pension savings account.

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