LS Securities said Friday it launched a Return to Domestic Market Investment Account (RIA) on May 23 to encourage Korean retail investors in overseas stocks to return to the domestic market, offering gift cards and preferential trading fee benefits.
RIA is an account designed to support the repatriation of overseas stock investment funds to the domestic market. When investors sell overseas stocks, convert the proceeds to Korean won, and make long-term investments in domestic stocks, they receive a 50% to 100% capital gains tax deduction on overseas stocks depending on the timing of the sale.
To mark the RIA launch, LS Securities is running a promotion offering stock gift cards and preferential trading fees. Investors who open an RIA account online by May 31 and complete the agreement registration and event application will receive a 20,000 won stock gift card. Preferential domestic stock trading fees will also be offered from the date of application through December 31.
"We prepared this event to celebrate the RIA launch and help enhance our customers' investment returns," an LS Securities official said. "We will continue to strive to provide a variety of benefits going forward."
