Shinhan Investment Launches RIA Service to Support 'Seohak Ants' Repatriation

Shinhan Investment Corp. announced on March 23 that it has launched the Domestic Market Repatriation Account (RIA) service, which supports the repatriation of overseas stock investment funds back to Korea.

The RIA is a tax-advantaged account that provides phased reductions in capital gains tax on overseas stock sales, depending on the timing of the sale, if the investor reinvests funds from the sale of overseas stocks into domestic stocks or holds them in Korean won for a certain period.

Shinhan Investment Corp. offers the entire process—from opening an RIA, depositing and selling overseas stocks, to placing orders for domestic stocks and domestic equity funds (including ETFs)—through the Shinhan SOL Securities App. Customers can apply for and conduct transactions without visiting a branch, and receive tax benefits if they meet the relevant requirements. If customers have an existing comprehensive securities account that is unused, it can also be registered and utilized as an RIA.

To receive the tax benefits, investors must deposit their overseas stocks into the RIA and then sell them through the RIA. Stocks sold from existing trading accounts without depositing them into the RIA are excluded from the capital gains tax reduction.

Shinhan Investment Corp. has created a dedicated RIA balance menu within the Shinhan SOL Securities App, allowing customers to easily manage their RIA holdings and trading limits at a glance. Holdings of overseas stocks, domestic stocks, and domestic equity funds are clearly separated, and the interface is designed so that customers can intuitively check their transaction history and remaining trading limit within the government-designated tax-free threshold (up to KRW 50 million based on sales amount).

Additionally, to assist investors who are unfamiliar with the RIA system, the company has created the "Domestic Stock Repatriation Account (RIA) Guide." The guide details important aspects of the system that are easy to overlook, such as the reduction in tax benefits when overseas stocks are net purchased in accounts other than the RIA.

To encourage more customers to use the RIA service, Shinhan Investment Corp. is also running a special event. Customers who apply for the event and open an RIA online will receive preferential overseas stock selling commission rates and a 95% exchange rate discount, as well as preferential domestic stock trading commission rates, until the end of the year. The first 50,000 customers to newly open and trade with an RIA will receive up to KRW 10,000 worth of financial investment vouchers.

A representative from Shinhan Investment Corp. said, "With the introduction of the RIA service, we expect a significant increase in customers considering repatriating their overseas stock investment funds to Korea," adding, "We have designed the dedicated RIA balance menu and guide with customer convenience as our top priority."

This content was produced with the assistance of AI translation services.