Number of ISA holders tops 6m in 9 yrs: data
The number of individual savings accounts has breached the 6-million mark, data showed Monday.
A total of 6.04 million people held ISAs as of the end of last month, with their deposits in the accounts reaching 36.5 trillion won ($24.8 billion), according to the data from the Korea Financial Investment Association.
The financial product was introduced in March 2016 as part of the government's efforts to help individuals increase their wealth with a one-stop scheme and give customers tax benefits.
ISAs allow customers to pick specific investment products, such as stocks, funds or deposits, themselves or let financial services firms manage their assets.
Brokerage-offered ISAs stood at 5.1 million at the end of last month, accounting for 84 percent of the total.
Industry watchers said the number of subscribers to brokerage ISAs will further rise on extended tax credits for the products. (Yonhap)
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