From Overseas Stocks
Mirae Asset Securities announced on Aug. 30 that the inflow of overseas stocks from foreign depositories has exceeded 2 trillion won (US$1.51 billion). This growth is attributed to increased demand for stock compensation system consulting services targeting employees of overseas companies.
According to Mirae Asset Securities, there has been a sharp increase in the inflow of stocks, totaling over 3 trillion won, following the announcements of consumer precautions by the Financial Supervisory Service (FSS) and proposed tax law amendments related to overseas corporate stock compensation systems by the National Tax Service.
In June, the FSS announced that domestic employees working for overseas companies could face sanctions for violating domestic laws such as the Capital Markets Act and the Foreign Exchange Transactions Act when they acquire overseas stocks through stock compensation systems and then trade them through foreign securities firms. According to domestic regulations, regular investors are required to conduct overseas stock transactions exclusively through domestically licensed securities firms authorized by the Financial Services Commission (FSC).
An official from Mirae Asset Securities said, “We have seen a significant increase in requests and inquiries regarding stock transfers by employees working for overseas companies lately. We are planning to expand our support for corporate briefings on stock compensation systems and make efforts to provide more benefits to customers involved in stock transfers in the future.”
Meanwhile, investors can receive investment support funds of up to 2 million won (US$1513), depending on the deposit amount and transaction volume from Mirae Asset Securities, by participating in an overseas stock deposit event until the end of September. Additionally, all customers can also benefit from promotions like the “ZERO Campaign,” which exempts online purchase transaction fees for U.S. stocks until the end of the year.