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Photo: Korea Exchange |
[Alpha Biz= Kim Jisun] The Blue House convened a private meeting with CEOs of domestic securities firms and asset management companies to discuss ways to encourage the return of Korean retail investors trading U.S. stocks.
According to financial industry sources and regulators on January 14, Kim Yong-beom, Chief of Policy at the Blue House, met with representatives from major firms including Mirae Asset Securities and Korea Investment Management to hear industry perspectives and discuss measures to revitalize the capital market.
Officials from the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) also attended the meeting.
Participants reportedly discussed various strategies to stabilize the won-dollar exchange rate, which has risen for ten consecutive trading days and approached 1,480 KRW. On that day, the exchange rate briefly surged to 1,479.2 KRW, despite interventions by the foreign exchange authorities at the end of last year.
In addition, industry representatives proposed measures to facilitate the swift introduction of domestic market return accounts (RIA), provide tax deductions, implement separate taxation on fund and exchange-traded fund (ETF) distributions, and grant tax exemptions on capital gains from domestic equity ETFs within retirement accounts.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
