Shinhan Securities Offers Preferential Interest on Cash Balances to Mark Partnership with IPO Platform '160'

Shinhan Securities said on October 30 that it is holding an event through November 20 to mark its partnership with 160, an automated IPO investment platform, offering interest on cash balances to customers who open new accounts.

160 is a platform that uses artificial intelligence (AI) to select promising IPOs and supports users from subscribing to selected IPOs through selling their shares. Customers can connect an account with a partner securities firm to use services related to automated IPO investing.

The event is open to customers who open a Shinhan Securities account through the 160 app and complete an investment discretionary management agreement and registration of an order agent. Customers who deposit KRW 500,000 into the account during the event period can receive interest on their cash balance at an annual rate of up to 7.45% for six months (based on a 30-day period, before tax).

The maximum annual rate of 7.45% combines the event rate of 5% and the CMA rate of 2.45%. The event rate applies to cash balances of up to KRW 500,000, while only the CMA rate applies to amounts above KRW 500,000. The CMA rate may change depending on market conditions and company policy, and there is no separate limit on cash balances.

A Shinhan Securities representative said, "We organized this event so that customers who open a new Shinhan Securities account through the 160 app can also benefit from interest on their cash balances," adding, "We will continue to expand customer benefits through a variety of partnership services."

A 160 representative said, "We prepared this event with Shinhan Securities to make the service more convenient for customers interested in IPO investing," adding, "We plan to continue introducing services that offer investors tangible benefits."

More information about the event is available in the 160 app.

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