Samsung Securities said on the 22nd that it will hold a "domestic market return account (RIA) prelaunch registration event" for resident individual clients in Korea who hold overseas stocks. The event will run from the 26th to the 30th.
An RIA account is an account that temporarily grants capital gains tax benefits on overseas stocks when proceeds from selling overseas stocks are exchanged into won and then invested long term in domestic stocks.
Samsung Securities conducted a preliminary customer survey to gauge awareness and demand for RIA accounts.
According to the survey results, 81% said they knew at least roughly about RIA accounts, and 65% said they intended to use the tax benefits through an RIA account in the future. In addition, 69% said they were willing to sell overseas stocks and invest in domestic stocks to obtain RIA tax benefits, indicating strong investor interest in RIA accounts.
Those who apply for this event will receive a notification when the Samsung Securities RIA account launches. Afterward, if they open an RIA account, a cash reward will be given to the first 30,000 people.
The reward amount is assigned at random. The reward ranges from 5,000 won to up to 100,000 won.
A Samsung Securities official said, "As the valuation appeal of the Korean stock market is being reassessed, we expect the RIA account to invigorate long-term investment in Korean stocks."