Hana Securities said on the 24th that it has launched a return-to-domestic-stocks (RIA) account.
RIA is a system under which, if funds from selling overseas stocks to stabilize the exchange rate are converted into won and invested for one year, up to 100% of capital gains tax is deducted.
To receive the tax benefit, investors must open an RIA account, sell overseas stocks through that account, and then invest the proceeds in domestic stocks or domestic equity funds and hold them for at least one year. However, it applies only to overseas stocks held on or before Dec. 23 last year.
The account contribution limit is 50 million won. Tax benefits vary depending on the time of sale: 100% of capital gains tax is deducted if sold by the end of May this year, 80% by the end of July, and 50% by the end of the year.
To mark the launch of the RIA account, Hana Securities is also running an account-opening promotion. Among customers who apply for the promotion and open an account, 2,000 will be selected by drawing to receive domestic stock purchase coupons worth up to 100,000 won. In addition, when overseas stocks are sold from an RIA account, domestic stock investment support of up to 120,000 won will be provided depending on the amount.
RIA account opening and promotion applications are available through Hana Securities' mobile trading system (MTS) "1Q Pro." For details, check the Hana Securities website or contact the Customer Care Center.
Cho Dae-heon, head of the AI Digital Strategy Division at Hana Securities, said, "We prepared this promotion to support investors' return to domestic stocks," and added, "As benefits are offered when selling overseas stocks through our RIA account, we hope investors considering a return to domestic stocks seize this opportunity."