Kakao Pay Securities Surpasses 500,000 Retirement Pension Savings Accounts

One in Four Subscribers Also Opens an ISA Account

Kakao Pay Securities announced on May 19 that the number of retirement pension savings accounts has surpassed 500,000.

According to Kakao Pay Securities, after the company launched its retirement pension savings service in November 2024, the number of accounts quickly surpassed 100,000 and then 300,000, eventually exceeding 500,000 as of May 4. Even after reaching 300,000 accounts, more than 1,000 new accounts were opened daily on average.

Additionally, the ISA (Individual Savings Account), which was launched in November last year, also surpassed 300,000 accounts earlier this month.

The average age of all retirement pension subscribers was found to be 43. The largest proportion of subscribers were in their 40s, accounting for 33.72%, followed by those in their 30s at 25.75%, 50s at 22.72%, under 20s at 11.72%, and those aged 60 and older at 6.06%.

An early sign-up trend among younger generations was also observed. The average first sign-up age for subscribers in their 20s was 25.05, and for those in their 30s it was 33.97. A representative from Kakao Pay Securities commented, "It appears that generations familiar with the mobile environment are starting to prepare for retirement at a relatively early stage."

The top 10 stocks most frequently held within retirement pension savings were ETFs (exchange-traded funds) tracking major domestic and international indices such as the S&P 500, Nasdaq 100, and KOSPI 200, as well as ETFs related to semiconductors and high-dividend stocks.

There is also a trend of users expanding from retirement pension savings to other financial products. Approximately 120,000 users, or 24% of all retirement pension subscribers, have also opened an ISA account. Including stock accounts, the number of users who opened additional accounts reached about 150,000, which is 28% of all retirement pension subscribers.

Kakao Pay Securities believes that the mobile-centric retirement management features have contributed to account growth. Users can transfer their retirement accounts from other financial institutions to Kakao Pay Securities, or move funds from matured ISAs to retirement pension savings, all through the mobile platform.

Shin Hocheol, CEO of Kakao Pay Securities, stated, "The fact that 500,000 retirement pension savings accounts and 300,000 ISA accounts have been gathered in a short period since launch demonstrates strong demand for managing both retirement and tax savings on mobile. As we see transactions expand from one product to others, we will develop our platform so that users can handle asset building for all life stages on mobile."

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