South Korea's Domestic Market Return Accounts Surge to 313,594, Up 3.8 Times in 3 Months

According to the Financial Supervisory Service, domestic market return accounts (RIA) exceeded 313,594 as of late July, surging 3.8 times from 83,035 in late March. The accounts' balance grew to 2.656 trillion Korean won from 414 billion won in the same period, expanding 6.4 times in three months.

RIA, launched on March 23, allows retail investors selling overseas stocks to invest proceeds in domestic stocks while receiving capital gains tax reductions of up to 100%. The full deduction applies to sales completed by May 31. Sales completed between June 1 and July 31 qualify for an 80% tax deduction, dropping to 50% from August 1 onward. Investors must complete sell orders by July 30 to meet settlement deadlines.