Kiwoom Securities Surpasses 1 Trillion KRW in Brokerage-type ISA Balances

Customer Assets Average 5.56 Million KRW, 5.56 Million KRW Higher Than Industry Average of 3.32 Million KRW Per Customer

Kiwoom Securities announced on the 10th that the balance of its brokerage-type ISA (Individual Savings Account) has surpassed 1 trillion KRW.

The balance of the brokerage-type ISA increased by 129% compared to the end of last year, and the number of customers with remaining balances grew by more than 112%.

According to the Korea Financial Investment Association, as of the end of July, the number of brokerage-type ISA subscribers exceeded 4.6 million, with subscription amounts surpassing 15.3 trillion KRW. The average investment amount per customer is estimated to be 3.32 million KRW. Kiwoom Securities’ average investment amount per brokerage-type ISA customer is 8.88 million KRW, which is higher than the industry average.

The brokerage-type ISA is an account that allows individuals to directly manage various financial products, including domestic listed stocks, while receiving tax benefits. With the 2024 tax law revision announced by the government in July, which includes expanded contribution limits and tax-exempt limits, investor interest has been steadily increasing.

There are expectations that the brokerage-type ISA will benefit from the implementation of the financial investment income tax. When the financial investment income tax is enforced, taxes will be imposed on all income realized from financial investment products such as stocks, funds, bonds, and derivatives (with a basic deduction of 50 million KRW). In contrast, the brokerage-type ISA applies tax exemption up to 2 million KRW (4 million KRW for farmers and fishermen) on the net gains and losses within the account, and a separate tax rate of 9.9% is applied to the excess amount. Capital gains from trading domestic listed stocks are fully tax-exempt without any limit.

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