Daishin Securities Opens Non-Face-to-Face IRP Account Opening Service... Lifetime Free Fees

If You Open an IRP Account Remotely, Management Fees of 0.2~0.4% per Year Are Waived

[Asia Economy Reporter Song Hwajeong] Daishin Securities is launching a non-face-to-face individual retirement pension (IRP) with zero commission fees.

On the 27th, Daishin Securities announced that it opened the 'Non-face-to-face IRP Account Opening Service' on its online securities trading platform 'Creon,' allowing customers to open IRP accounts remotely. Customers who newly open an IRP account through this service will enjoy lifetime exemption from management fees.

The non-face-to-face IRP account opening service was planned to meet the demand of customers who prefer remote services due to COVID-19 and want to save costs to increase investment returns. IRP is a long-term investment product designed to prepare retirement income. Saving on management fees of 0.2% to 0.4% annually can significantly benefit returns, as compound interest effects apply to fees and other costs.

For example, if you invest 1 million KRW monthly in a product with an average annual return of 3% for 20 years, the principal invested would be 240 million KRW, but due to compound interest, the asset value after 20 years would increase to 329 million KRW. If you paid an average annual fee of 0.4%, the asset value would be 314 million KRW, resulting in a difference of about 15 million KRW.

To receive the management fee exemption benefit, search for Creon on the Android Play Store or iPhone App Store, download the Creon mobile app, and open a new IRP account remotely. For detailed inquiries, contact Daishin Securities Customer Satisfaction Center. The management fee exemption will be retroactively applied in June after all related procedures, including terms and conditions changes, are completed.

Pyun Suwon, head of Daishin Securities' Pension Business Division, said, "The non-face-to-face IRP account opening service will provide cost-saving benefits to customers preparing for retirement pensions," adding, "We will continue to offer differentiated pension asset growth solutions to contribute to improving pension asset returns."

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