Shinyoung Securities Launches 'Trust-type ISA' Allowing Investment in Domestic Listed Stocks

[Asia Economy Reporter Minji Lee] Shin Young Securities announced on the 12th that it will be the first in the financial sector to open the 'Trust-type Individual Savings Account (ISA)' applied with the revised tax law.

Introduced in 2016, the ISA is a financial product that allows multiple financial products such as deposits, funds, and derivative-linked securities to be held in one account for a certain period, providing tax exemption and low tax benefits on the income generated.

From this year, anyone aged 19 or older who is a resident can subscribe to an ISA, and domestic listed stocks have been added as investable products. Contract renewal and maturity extension are also possible. Upon maturity, the amount converted to a pension account expands the pension account contribution limit, and an additional tax credit of 10% of the pension account conversion amount is available up to a limit of 3 million KRW. Trust-type ISAs can be subscribed through all Shin Young Securities branches.

Gu Jahwan, Head of Trust Operations at Shin Young Securities, said, "The first opening in the financial sector was possible because of the next-generation comprehensive property trust system built in 2018," and added, "Shin Young Securities will continue to strive to provide customized solutions and services for customers to firmly establish itself as the first mover in the trust industry."

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