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Korea-style ISAs : Necessity and recommendations

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  • Korea-style ISAs
  • Kim, Jaechil
  • Korea Capital Market Institute


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Title Korea-style ISAs
Similar Titles
Sub Title

Necessity and recommendations

Material Type Reports
Author(English)

Kim, Jaechil

Publisher

[Seoul]:Korea Capital Market Institute

Date 2015-02
Series Title; No Capital Market Opinion
Pages 5
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Holding KCMI

Abstract

The Korean government is preparing a “Korea-style ISA,” a tax-free savings account scheme that allows subscribers to buy financial vehicles and enjoy tax benefits. It will help any individual to build up a lifecycle plan for saving, managing, and investing in financial assets. The precondition for this scheme is the integration of all existing tax-saving financial vehicles under a single umbrella. The plan should target participants as broadly as possible and induce more savings to move to investment assets. It is also desirable to allow at least mid- to low- income earners to withdraw their assets freely in order to attract wider participation.