The Federation of Korean Industries (FKI) announced Wednesday that it has proposed to the Office for Government Policy Coordination an idea to allow domestic stocks listed on KOSPI and KOSDAQ to be gifted in the form of mobile gifticons.
Stock gifticons are a new financial investment service that issues domestically listed stocks in mobile gifticon format. The service offers greater convenience and accessibility than existing financial investment gift certificates, which cannot designate specific stocks, or stock gifting services that only allow transfers between accounts at the same brokerage.
FKI expects that stock gifticons could help revitalize the domestic stock market at a time when individual investors are increasingly pouring money into overseas stocks, particularly in the United States.
In a survey commissioned by FKI and conducted by Mono Research among 500 adults aged 40 and under nationwide, more than four in ten respondents (44.8%) said they would be willing to use the stock gifticon service if introduced. Among those with stock investment experience, the willingness to use the service was higher at 54.7%.
FKI also presented four policy tasks to establish the stock gifticon service. The proposals include enabling distribution and sales of stock gifticons on online shopping platforms through the Financial Services Commission's innovative financial service designation, and setting the gift tax exemption limit at 2.5 million won annually, equivalent to the current basic deduction limit for stock transfer income.
