Meritz Securities entices investors with gold bars and coins, alongside tax incentives for returning overseas assets.
Category: Business
South Korea's Meritz Securities has announced an enticing promotional event aimed at customers opening a domestic market return account (RIA). On March 23, 2026, the brokerage revealed that it would distribute a total of 100 million won worth of gold bars and 10 million won worth of gold coins, alongside 50 million won cash, to participants who meet specific criteria.
To qualify for the gold bar and coin giveaway, customers must open a 'Super RIA' account, deposit over 50 million won worth of U.S. stocks, and sell these stocks by the end of May. Notably, selling within seven business days of the deposit date significantly boosts the chances of winning, tripling the likelihood of success.
For example, if a customer deposits 20 million won worth of U.S. stocks on April 10 and an additional 30 million won on April 16, they must sell 50 million won worth of stocks by April 27 to meet the conditions for the increased winning probability.
The giveaway will feature multiple tiers: one grand prize winner will receive a gold bar valued at 20 million won, two second-place winners will each get a gold bar worth 10 million won, four third-place winners will receive gold bars worth 5 million won each, 40 fourth-place winners will get gold bars worth 1 million won each, and 100 fifth-place winners will be awarded gold coins valued at 100,000 won each.
Meritz Securities is also running a concurrent promotion for customers who hold a 'Super RIA' account and open a 'Super365' account for the first time. Customers who deposit more than 1 million won worth of domestic stocks or cash into their 'Super365' accounts and maintain that balance until the end of June will share a total of 50 million won cash prize pool.
Importantly, winners of the gold bar and coin event can also participate and win from the cash giveaway, allowing for multiple awards.
Both 'Super RIA' and 'Super365' account holders enjoy a zero-fee structure until the end of 2026, covering domestic stock trading fees, U.S. stock selling fees, and USD to Korean won exchange fees. This means no fees are incurred during the process of selling U.S. stocks and converting the proceeds into Korean won.
The RIA accounts are particularly appealing because they offer temporary tax benefits for individuals who sell overseas stocks and invest the proceeds into domestic stocks or domestic equity funds. Investors can receive a capital gains tax reduction on up to 50 million won of overseas stock sales.
On the same day, over 20 domestic brokerages launched their RIA accounts, which are structured to encourage the conversion of funds from overseas stock sales into Korean won for investment into the domestic market. This initiative is expected to stabilize the currency exchange rate and improve liquidity within the stock market.
The RIA program allows investors to benefit from tax incentives by investing the proceeds from their overseas stock sales into domestic stocks for at least one year. The capital gains tax reduction rates are set at 100% for sales made by the end of May, 80% for sales by the end of July, and 50% for sales made by the end of the year.
Notably, if investors repurchase overseas stocks within the same year through another account, the amount eligible for tax exemption will be reduced, a measure aimed at preventing 'cherry-picking' of tax benefits.
Initially, there were concerns about potential delays to the RIA launch due to the failure to pass the 'three laws for exchange rate stability' through the National Assembly. Nonetheless, an agreement was reached between the ruling and opposition parties to retroactively apply tax benefits, allowing the launch to proceed on schedule.
During a high-level meeting on March 22, the ruling Democratic Party and the government agreed to support the launch of the RIA and personal investment forward contracts, ensuring that follow-up legislation is completed swiftly.
Market analysts are optimistic that the introduction of RIA accounts will lead to a substantial influx of funds into the domestic stock market. The RIA accounts are expected to drive demand for dollar selling, alleviating upward pressure on the exchange rate, and facilitating the conversion of overseas stock sale proceeds into Korean won for investment.
Experts believe that the RIA initiative will play a key role by providing liquidity to the stock market and by stabilizing fluctuations and reinforcing downside support. Yim Dong-chan, a researcher at Korea Investment & Securities, noted that the RIA is likely to contribute to a stronger Korean won, drawing parallels with a similar measure implemented by Indonesia back around 2016, which saw about 12% of overseas assets return to the domestic market.
He highlighted that during that period, the Indonesian rupiah, which has been on a long-term weakening trend, actually appreciated. Yim emphasized that the 100% capital gains tax exemption for amounts returned by the end of May is likely to spur the return of overseas assets to South Korea.
Other analysts, such as Kang Jin-hyuk from Shinhan Investment Corp., believe that the market is closely monitoring the effects of RIA's introduction. They argue that the potential for individual investors to return depends largely on the performance outlook for both domestic and overseas markets.
Lim Jung-eun, a researcher at KB Securities, stated that the RIA would serve a bridging role by returning funds that had previously flowed overseas back into the domestic market, enhancing liquidity and reducing volatility. She expressed hope that the program would act effectively to catalyze large-scale fund movements back into the domestic stock market.
With these developments, the RIA initiative could mark a transformative moment for South Korea's investment climate, potentially reshaping the dynamics of capital flows and market stability.