The number of securities trading accounts for children under one year old in South Korea has surged nearly threefold from a year earlier to about 15,000 accounts as of June, according to data from Mirae Asset Securities. Meanwhile, new accounts for children aged zero to nine rose nearly 60 percent to around 185,000 accounts, reflecting a trend of parents opening investment portfolios for their children from birth to take advantage of time and compounding power. This is supported by a South Korean stock market rally driven by the AI theme and tax incentives, such as the capital gains tax exemption on stock sales for most retail investors and a gift tax exemption of up to 20 million won per child over a 10-year period.
Mirae Asset Daewoo Securities Co LtdMirae Asset Securities reports surge in child stock accounts, indicating increased retail investor demand for its brokerage services.
Mirae Asset Daewoo Co Ltd