Kakaopay Securities announced Monday it is holding an account opening event worth a total of 30 million won to celebrate the launch of its Return Investment Account (RIA). The event runs for one month through June 26.
RIA is a program that provides tax benefits when investors transfer overseas stock assets to the domestic market. Depending on the timing of sale, investors can receive a 50% to 100% deduction on capital gains tax.
Kakaopay Securities designed the event under the concept "RIA Start, AIR Check-in." The campaign is notable for combining investment with rewards through a travel theme.
Rewards will be given to a total of 15,000 people through a lottery. Prizes include 1 million Yeogieoddae points (two winners), Korean Air tickets worth 500,000 won (10 winners), Korean Air tickets worth 300,000 won (15 winners), and 1,000 won in cash (14,973 winners).
"We designed the service and event so that overseas stock investors can naturally experience the tax-saving benefits during the asset transfer process," a Kakaopay Securities official said. "We hope more investors will experience the structure and benefits of RIA."
