On the 13th, Kakao Bank announced the launch of the ‘Securities IRP Benefit Comparison Service’ that allows users to compare the benefits offered by each securities firm when opening a personal retirement pension (IRP) account.
The ‘Securities IRP Benefit Comparison Service’ enables users to check the benefits of opening an IRP with different securities firms through the Kakao Bank app, and proceed with the IRP opening through partner securities firms’ pages.
If a customer wishes to open an IRP with a partnered securities firm through the Kakao Bank app, they can choose ‘Open Account’ to be redirected to the respective securities firm’s page. Kakao Bank has simplified the process, allowing customers to easily apply for an IRP using information entered during the creation of a stock account with the partner firm.
Korea Investment & Securities and Samsung Securities provide various benefits to customers opening an IRP account through the respective securities firm’s page linked in the Kakao Bank app.
By the end of this month, Korea Investment & Securities will offer a 10,000 won Naver Pay voucher to customers who open an IRP account and set a contribution limit or make a deposit via Kakao Bank.
Samsung Securities will provide a 10,000 won mobile gift voucher to the first 2,000 customers who open their first new IRP account, verify IRP eligibility, and register for online transactions through Kakao Bank by the end of January next year.
Both Korea Investment & Securities and Samsung Securities will hold events offering department store gift vouchers worth up to 30,000 won, depending on the deposit amount.
More detailed IRP account opening benefits can be found on the Kakao Bank mobile app and the detailed product information pages of each securities firm.
IRP accounts can accept annual contributions up to 18 million won. Tax credit benefits are available up to a combined deposit amount of 9 million won across all securities firms.
Kakao Bank plans to expand its partnerships, starting with Korea Investment & Securities and Samsung Securities, to allow customers to access a wider range of benefits from various securities firms through the Kakao Bank app.
Currently, Kakao Bank partners with seven securities firms to provide the ‘Securities Stock Account Opening’ service. Since its launch in March 2019, 7 million stock accounts have been opened through the Kakao Bank app.
A Kakao Bank representative stated, “We have improved access and convenience for customer investments in pension products for tax savings and retirement planning, following stock account opening, stock investments, and funds. We aim to expand our investment service lineup so that customers can experience all financial investment activities through Kakao Bank.”