KakaoBank Launches Service Comparing Securities Firms' IRP Benefits

First Partnership with Hantu and Samsung Securities

KakaoBank announced on the 13th that it has launched a service for comparing benefits of securities firms' Individual Retirement Pension (IRP) plans.

This service allows users to check the benefits of opening IRP (Individual Retirement Pension) products from securities firms within the KakaoBank application (app) and also proceed with opening an IRP through the affiliated securities firms' pages.

If a customer wishes to open an IRP with an affiliated securities firm through the KakaoBank app, selecting "Open Account" will redirect them to the respective securities firm's page. KakaoBank has simplified the process so that customers can easily apply to open an IRP based on the information entered when opening a stock account with the affiliated securities firm.

Korea Investment & Securities will provide a 10,000 KRW Naver Pay voucher to customers who open a Korea Investment & Securities IRP account through KakaoBank and set a payment limit or make a deposit by the end of this month. Samsung Securities will give a 10,000 KRW mobile gift certificate to the first 2,000 customers who newly open a Samsung Securities IRP account through KakaoBank, complete IRP eligibility verification, and register for online trading by the end of January next year. Both companies are also running events offering department store gift certificates worth up to 30,000 KRW depending on the deposit amount.

Both Korea Investment & Securities and Samsung Securities IRP accounts allow annual contributions up to 18 million KRW, with tax deductions available within a limit of 9 million KRW.

Currently, KakaoBank partners with seven securities firms to provide a "Securities Firm Stock Account Opening" service. Since the service launch in March 2019, the cumulative number of stock accounts opened through the KakaoBank app has reached 7 million.

A KakaoBank representative stated, "We have enhanced customers' investment accessibility and convenience not only for securities account opening, stock investment, and funds but also for pension products aimed at tax savings and retirement preparation." They added, "We will continue to expand our investment service lineup so that customers can experience all financial investment activities within KakaoBank."

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