Kakao Pay Securities said on the 13th that the number of individual savings accounts (ISA) surpassed 100,000 just two months after launch. It noted that as mobile-based investment demand expands, it is quickly increasing its market share in brokered ISAs as well.
According to Kakao Pay Securities, as of the 24th, the number of ISA accounts exceeded 100,000. Since its Nov. 3 launch last year, an average of about 12,000 new accounts per week have been opened. Total entrusted assets reached about 72 billion won, rising an average of 28.5% per week.
Subscribers are evenly distributed, mainly among people in their 20s to 50s. Recently, it analyzed that demand for long-term and diversified investments leveraging tax benefits is spreading across all age groups.
Excluding cash balances, exchange-traded funds (ETF) accounted for about 80% of the asset mix. Compared with regular stock accounts, the tax-saving effect is greater, and a preference for high-dividend products stood out.
Kakao Pay Securities said simple account opening and intuitive tax-saving information drove growth. It configured the interface to let users see tax benefits at a glance and improved convenience with features that suggest ETFs advantageous for tax savings and "stock accumulation" picks tailored to investment profiles.
It plans to expand wealth management services by strengthening content and stock suggestion features related to tax benefits and promoting linkage with retirement pensions. Over the long term, it is also reviewing ways to apply AI-based investment support services to ISAs.
A Kakao Pay Securities official said, "Brokered ISAs allow only one account per person, making it a highly competitive market," adding, "Even in this environment, recording a market share of about 21.4% in terms of new subscriptions in November last year shows our presence in the market."