Kiwoom Securities (039490.KQ) announced on the 15th that it is launching a "Complete Your Two Tax-Saving Accounts" promotion ahead of the year-end.
The event targets customers who hold only one type of account—either a pension account or a brokerage Individual Savings Account (ISA)—or who hold neither. Customers who open new accounts during the promotion period will receive up to 6,000 Kiwoom Points, which can be used like cash.
Customers who complete the set of two tax-advantaged accounts (pension savings and brokerage ISA) by meeting the new account opening requirements will be entered into a prize drawing for rewards including Shinsegae gift certificates, Naver Pay, and chicken and coffee gift cards. They will also be eligible to participate in a net deposit event running through the end of the year.
A brokerage ISA is a comprehensive tax-saving account that allows investors to directly manage various products including stocks, exchange-traded funds (ETFs), bonds, funds, and equity-linked securities (ELS) in a single account. Since gains and losses from investments within the account are netted and only net profits are taxed, investors can reduce their tax burden. Tax-exempt benefits apply to gains up to 2 million won (4 million won for low-income earners).
Pension savings accounts are individual pension accounts that offer tax deductions of up to 990,000 won based on income level when contributing up to 6 million won annually. Additionally, when funds from a matured ISA are transferred to a pension account, investors can receive additional tax deductions on contributions of up to 3 million won.
"With the year-end tax settlement season approaching, this is a great opportunity to enjoy both tax benefits and promotional rewards at the same time," a Kiwoom Securities official said.
