Toss Bank said on Thursday it will launch a “gold savings” service within its “wealth building” service in partnership with NH Investment Securities.

With the introduction, Toss Bank’s wealth building service expanded to include alternative investment assets such as gold, in addition to existing financial products such as domestic and overseas bonds and negotiable certificates of deposit.

The gold savings service is based on the KRX Gold Market, South Korea’s spot gold trading market. It is marked by a tax exemption on trading gains, and unlike typical gold funds or exchange-traded funds, no separate tax is levied. Trading fees and value-added tax on physical withdrawal are charged separately.

Users can hold gold through an account without needing to store physical gold themselves, and can trade at prices that reflect real-time quotes.

To use the service, users must open an account dedicated to spot gold trading through the wealth building service. Anyone aged 19 or older who is a South Korean national residing in South Korea can open the account, and small investments are possible in minimum units of 1 gram.

It also offers a “gold savings - regular purchase” function that allows users to invest a fixed amount automatically each week or month, reducing the burden of timing purchases amid price swings and lowering the average purchase price.

A Toss Bank official said, “As uncertainty continues in global markets, interest in gold is rising as a means of responding to volatility,” adding, “We will provide a more convenient environment for investing in gold based on accessibility.”