Korea Investment Securities (CEO Kim Seong-hwan) noted it is conducting a foreign currency repurchase agreement (RP) event for customers who open a banking stock account through a partnership with Toss (Viva Republica). The event period runs until the 30th.
During the event period, if a banking stock account is opened through the Toss application, 1,000 won in Toss points will be awarded, and an additional 5,000 won will be provided for investments of over $300 through the "foreign currency RP automatic trading" service.
The foreign currency RP automatic trading service is available through the "Korea Investment" mobile app. It automatically purchases foreign currency RPs at a designated time each day using the dollar deposits in the account and sells them on the next business day.
An RP is a bond in which a securities firm promises to repurchase after a certain period. Even if managed for just one day, it can yield an interest of 3.9% (before tax) based on that day. A maximum of $5,000 can be invested.