Finance

National Growth Fund to offer up to 40 percent income deduction; RIA cherrypicking curbs detailed

South Korea will grant an income deduction of up to 40 percent to individuals investing in a public-participation National Growth Fund, with a separate 9 percent tax on dividend income for long-term investments. It will also create tax incentives for return-to-domestic-market accounts that convert proceeds from selling overseas stocks into won and invest domestically, while adjusting benefits to deter cherrypicking and adding limited, time-bound FX market measures.

Finance

NH Investment Securities expands monitoring to executives' family accounts

NH Investment Securities said on Jan. 20 it will strengthen internal controls by including family accounts of all executives in its monitoring system. The firm previously registered and managed only family accounts of staff in units with a high risk of conflicts of interest, such as its investment banking division. Under the new steps, it will expand coverage and conduct sampling checks of reported accounts in the second half.