The Federation of Korean Industries (FKI) introduced on Dec. 23 that it had proposed to the Workplace for Authorities Coverage Coordination an thought to allow home shares listed on the KOSPI and KOSDAQ markets to be made into present playing cards and given as presents.
Inventory present playing cards are a brand new idea monetary funding service that points home listed shares within the type of cell present playing cards. They provide superior comfort and accessibility in comparison with present monetary funding present certificates that can’t designate particular shares for gifting or inventory gifting companies that solely permit transfers between the identical securities firms. The FKI expects that using inventory present playing cards will contribute to revitalizing the home inventory market amid the surge in particular person traders’ investments in abroad shares together with these in the USA.
In a survey commissioned by the FKI to Mono Analysis concentrating on adults aged 40 and beneath nationwide (500 respondents), greater than 4 out of 10 individuals (44.8%) answered that they “have an intention to make use of” the inventory present card service if it had been launched. Amongst these with inventory funding expertise, the intention to make use of was increased at 54.7%.
The FKI additionally introduced 4 coverage duties for establishing the inventory present card service. By way of the Monetary Companies Fee’s designation of progressive monetary companies, they suggest to allow the distribution and sale of inventory present playing cards on on-line purchasing platforms, and to set the present tax exemption restrict on the annual 2.5 million received degree, which is similar as the present fundamental deduction restrict for inventory switch earnings.
