ISA Subscribers Surpass 1 Million in Just 5 Months

[Asia Economy Reporter Hwang Yoon-joo] The number of subscribers to the 'brokerage-type' Individual Savings Account (ISA), which allows investment in the domestic stock market, has surpassed 1 million in just over five months.

According to the Korea Financial Investment Association on the 30th, as of the end of July, the number of brokerage-type ISA subscribers was recorded at 1,219,493.

This is an increase of 340,000 from the end of June, and it has exceeded 1 million subscribers just five months after the brokerage-type ISA was launched in February. The investment amount also rose by 329.5 billion KRW in one month, reaching 1.5477 trillion KRW.

Since its launch in 2016, ISA did not allow investment in stocks, but the brokerage-type ISA, which permits stock investment, was introduced last February.

Currently, it is only available through eight securities firms: NH Investment & Securities, Samsung Securities, KB Securities, Korea Investment & Securities, Mirae Asset Securities, Kyobo Securities, Hana Financial Investment, and Shinhan Financial Investment.

Since the launch of the brokerage-type ISA, a significant number of bank ISA subscribers have been moving to securities firms. As of the end of June, the total number of bank ISA subscribers decreased from 1,822,000 to 995,000, while the number of securities firm subscribers surged from 158,000 to 950,000.

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