“Dad purchased Mita and Cocoa”… There’s a cause why right now’s kids purchase shares as an alternative of pocket cash.

2024-05-21 18:35:55

The variety of belief accounts opened by minors elevated by 48.59% inside one 12 months.
Monetary Companies Fee Revises “Tips for Non-Face-to-Face Actual Identify Verification”
Non-face-to-face demand explodes after COVID-19

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Yeouido Securities District [이승환 기자]

# Mr. A referred to as a securities firm to open a inventory account for his baby, however after an extended wait, he was unable to open an account and at last gave up.

# Mr. B went to the financial institution to open a inventory account for his baby with proof of household relationship, seal, licensed copy, and guardian’s ID card, however did not open a inventory account in the long run. It’s because the paperwork required by every securities firm are completely different, so extra paperwork are required. After many journeys to the financial institution, Mr. B lastly efficiently opened a inventory account for his baby.

Till two years in the past, it was straightforward to seek out examples of fogeys like A and B struggling to open inventory accounts for his or her kids. However just lately, that environment is altering. This comes because the Monetary Companies Fee overhauls the method for creating accounts for kids.

Based on a report from the securities market on the twentieth, from Might 2 final 12 months to Might 2 this 12 months, the overall variety of belief accounts opened by minors within the high 5 securities firms (Mirai, Korea Funding, Samsung, KB, NH Funding & Securities) Reached 392,136. In contrast with 263,902 small-amount entrusted accounts opened final 12 months, it elevated by 48.59%.

Kiwoom Securities beforehand introduced on March 27 that the variety of underage prospects exceeded 480,000. This improve is critical contemplating that the variety of underage prospects of Kiwoom Securities in 2019 was lower than 40,000.

The explanation why account opening by minors has change into notably lively in only a few years is as a result of the “Non-face-to-face real-name authentication tips” had been revised in April final 12 months, permitting dad and mom with authorized representatives to open accounts for his or her kids.

The Monetary Companies Fee carried out these measures to implement the “Revolutionary Course of Monetary Supervision”. That is to permit dad and mom, as authorized representatives, to open accounts for his or her minor kids at banks, securities firms and different monetary firms non-face-to-face, thereby decreasing the difficulty of carrying numerous paperwork or attaching copies to the department.

After making ready your dad and mom’ identification playing cards, household relationship certificates, and primary certificates, you possibly can open an account to your baby by way of the APP. Whereas every firm has a barely completely different technique of opening an account, the purpose is that you should utilize it anytime, wherever utilizing your cell phone with out having to go to a department in particular person.

Some analysts imagine that the entry of enormous know-how firms resembling Kakao Financial institution and Toss Financial institution into the securities business and the non-face-to-face demand attributable to COVID-19 coincide with the revision of “non-face-to-face”. In reality, Individuals Energy Celebration lawmaker Lee Joo-hwan analyzed knowledge from KEB Hana Financial institution, KB Kookmin Financial institution and the Korea Securities Depository and located that the variety of minors underneath 18 holding inventory accounts elevated from 187,532 in 2018. Improve.

Because the demand for non-face-to-face companies will increase and buyer comfort will increase, securities firms are additionally actively responding.

An individual within the securities business additionally stated, “Since final 12 months, numerous securities firms have successively opened account opening companies for minors. Clients who had been beforehand inconvenient to go to enterprise retailers have opened accounts for his or her kids.” The explanation for the rise is that we held An account opening occasion that focuses on capital features from long-term investments,” he stated.

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