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Individual savings account

lastmod 2025-07-21created 2025-07-215 edits

The individual savings account (ISA), commonly called ISA, is a financial product sold from March 14, 2016 until the end of 2018. Once enrolled, the account must be kept for a mandatory 3 to 5 years, and caution is needed because it can include investment products with a risk of principal loss. A single account can hold various financial products such as deposits, funds and equity-linked securities (ELS), and based on the combined profit and loss per account, returns of KRW 2 million to 2.5 million are tax-exempt. Overseas examples include the UK and Japan, and the Financial Services Commission discussed its introduction with reference to them.

Enrollment and limits

You can enroll at 13 banks, 19 securities firms and 1 life insurer. Workers and self-employed people whose financial income in the previous year was KRW 20 million or less are eligible. The annual limit is KRW 20 million, and if you invest KRW 20 million every year, you can contribute a total of KRW 100 million over 5 years. You can enroll at insurers, securities firms and banks, and each person can open only 1 account across all financial companies.

Eligibility requirements

The "low-income type" gets twice the tax-exemption benefit!! Check the eligibility requirements that fit you!!

Type

General type

Low-income type

Farmers and fishers

Eligibility

Residents of the Republic of Korea aged 19 or older, or aged 15 to under 19
with earned income in the previous year

Residents with total wages of KRW 50 million or global income of KRW 38 million or less in the previous year
(depending on enrollment timing, based on the year before last for the first half and the previous year for the second half)

Resident farmers and fishers with global income of KRW 38 million or less in the previous year
(depending on enrollment timing, based on the year before last for the first half and the previous year for the second half)

Tax-exempt limit

KRW 2 million

KRW 4 million

KRW 4 million

Above the tax-exempt limit

Low-rate separate taxation of 9.9% applies

Mandatory holding period

3 years

Contribution limit

KRW 20 million per year, up to KRW 100 million (the unused contribution limit for the current year can be carried over to the next year)

Early withdrawal

Early withdrawals allowed any number of times within the total contributed principal (the contribution limit is not restored by the withdrawn amount)

Additional required documents

[Ages 15 to under 19] 'Certificate of Income Confirmation' for opening an individual savings account

'Certificate of Income Confirmation' for opening an individual savings account

'Certificate of Income Confirmation' for opening an individual savings account and 'Farmer/Fisher Confirmation', etc.

Comparison by ISA account type

There are 3 types of ISA!! Which account fits my investment strategy?

Type

Bond and stock investment available
"Brokerage type"

If you also need deposits
"Trust type"

Managed by experts on your behalf
"Discretionary type"

Investable products

Bonds, domestic listed stocks, funds, ETFs,
REITs, listed beneficiary certificates,
derivative-linked securities/bonds,
ETNs, RPs

REITs, ETFs, listed beneficiary certificates,
ETNs, funds, derivative-linked securities
/bonds, deposits, RPs

Funds, ETFs, etc.

Investment method

Customer selects investment products directly

Discretionary management with portfolios from Mirae Asset Securities investment experts

Fees and commissions

Commissions and fees per investment product

Trust fee: 0.20% per year
(charged once a year in arrears)

Discretionary fee: 0.10% / 0.50% per year
(varies by product type, charged quarterly in arrears)

Mobile non-face-to-face account opening

Available for general type

Not available

Not available

See also

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