KB Securities said on the 24th that it is holding a promotional event to mark the launch of its domestic stock return account (RIA).
The RIA account is a product designed so that customers holding foreign stocks can receive up to a 100% deduction of capital gains tax that arises depending on the timing and period of the sale when they make a long-term investment in domestic stocks using the proceeds from selling.
KB Securities will provide up to three coupons that can be used when buying domestic stocks, depending on the amount sold, to customers who deposit foreign stocks and sell them after opening an RIA account.
When depositing from another brokerage into an RIA account, coupons worth 10,000–70,000 won per transaction will be issued, and when depositing from a KB Securities account, coupons worth 5,000–30,000 won per transaction will be issued. However, there must be no withdrawals or transfers out of the account until the time the coupons are issued.
Coupons will be issued after confirming whether conditions are met on this year's quarterly reference dates (June 30, Sept. 30, Dec. 31). They are expected to be provided within 10 business days from each reference date.
Son Hee-jae, head of the Digital Business Group at KB Securities, said, "We are preparing various support measures so that not only existing customers but also customers who traded with other firms can continue investing in domestic stocks at KB Securities with more reasonable benefits."