Kim, a 39-year-old office worker in Seoul, recently set up a brokerage account in the name of his 5-year-old daughter as the benchmark KOSPI continues to hit record highs. He said putting money into his child’s account early and within the tax-exempt gifting limit seemed like a smart way to pursue long-term investment. “Since the assets will eventually go to my child anyway, I thought it would be better to start investing sooner,” he said. Lee, a 43-year-old office worker living in Gyeonggi Province, also opened accounts for her two elementary school children late last year. She said she plans to invest mainly in IT-related stocks to build funds for her children’s future wedding expenses over time. “It feels less burdensome to invest gradually rather than keep the money in cash,” she said. With Korea’s benchmark index repeatedly hitting record highs, more parents are following suit by opening accounts for their underage children, industry officials said Monday. Many are aiming to transfer assets early while keeping taxes low and maximizing long-term returns. Even so, market
Parents rush to open stock accounts for children as KOSPI hits highs
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