Samsung Securities said on the 18th that the number of its brokerage-type Individual Savings Accounts (ISAs) has surpassed 1.2 million, the first in the industry. The balance also exceeded 4 trillion won.
According to Samsung Securities, an analysis of new customers for the brokerage-type ISA revealed a significant influx from the 2030 generation over the past year. The number of accounts for the 2030 generation, which recorded about 330,000 accounts by the end of 2023, reached approximately 430,000 accounts by the end of January this year. About 100,000 new accounts were opened within a year.
During the same period, the breakdown by age group showed increases of about 45.8% in the 20s and about 25.1% in the 30s, indicating the largest growth rate among all age groups.
A representative from Samsung Securities noted that this phenomenon can be interpreted as a rapid attempt among younger individuals to subscribe to ISAs, as a three-year mandatory contribution period is required to receive tax benefits through the ISA.
Moreover, as of the end of last month, the assets held by customers of Samsung Securities' brokerage-type ISAs indicated that the largest portion of funds, based on evaluation, was invested in overseas ETFs (33%). Most showed a high investment proportion in U.S. ETFs that track indices such as the S&P 500 and Nasdaq. It appears that they are utilizing the non-taxable benefits available when investing in domestically listed overseas stock ETFs through the brokerage-type ISA.
To support financial technology using brokerage-type ISAs, Samsung Securities offers three functions: ▲ tax calculation tool ▲ high selection (PICK) ▲ ISA consultation center.
A representative from Samsung Securities said, "Recently, as the balance of brokerage-type ISAs has significantly increased, there are more smart investors utilizing these accounts by over 200%" and added that they will strive to continuously provide various information and events to ensure that brokerage-type ISAs can be positioned as a key solution for long-term asset formation rather than merely a tax-saving tool.