Kiwoom Securities said on the 24th it is running an account-opening event that offers coupons to coincide with the launch of the return-to-domestic-market account (RIA).
An RIA is an account under which, after you transfer foreign stocks held in a regular account into this account and sell them, then make long-term investments for at least one year in domestic stocks or domestic stock funds (including ETFs) or cash deposits, you can receive capital gains tax benefits on foreign stocks through Dec. 31, 2026.
The event runs through May 29.
Customers who open their first-ever Kiwoom Securities account and meet the conditions for opening an RIA account will receive a purchase coupon worth 20,000 won that can be used to buy domestic stocks and domestic stock funds. Customers whose account contributions are at least 5 million won as of the end of April and the end of May will receive an additional purchase coupon worth 50,000 won.
For customers who open an RIA account, foreign exchange fees are also waived. Discounts on domestic stock trading commissions are likewise applied automatically through Dec. 31. However, the discount applies only when making transactions in the RIA account, and related institutional fees must be borne by the customer.
In an RIA account, individuals can receive capital gains tax relief on foreign stock sale proceeds up to a limit of 50 million won per person. The deduction rate varies by the time of sale. Sales through May 31 receive a 100% deduction, through July 80%, and from August to December 50%.
However, the investment asset must be held for at least one year. In addition, if there is an amount of net purchases of foreign stocks in financial accounts other than the RIA, some of the tax relief may be offset. The amount of foreign stock transactions in regular accounts is subject to different weights depending on the transaction timing in 2026.
Further details on the event can be found on the Kiwoom Securities website and the "Hero MTS S#" mobile app.