Korea Investment & Securities offers special promissory notes at 5% annual yield

Korea Investment & Securities announced Thursday it will offer special promissory notes through the end of October.

The promotion targets Bankis customers making their first transaction with Korea Investment & Securities this year, as well as any customer who deposits new funds.

Customers who meet the conditions can sign up for a one-year term at an annual yield of 5.0% or a six-month term at 4.7%.

Existing Korea Investment & Securities account holders are eligible for a one-year term at an annual yield of 4.4% or a six-month term at 4.1%. The offer runs through the end of October and may close early if the limit is reached.

Korea Investment & Securities has steadily expanded its promissory note business since receiving the country's first short-term finance license in the securities industry from the Financial Services Commission in November 2017.

In November last year, the firm was also designated alongside Mirae Asset Securities as one of the first IMA operators in South Korea by financial regulators, and it has been actively expanding that business since. Both IMA No. 3 products launched in late last year and early this year sold out.

Through its promissory notes and IMA products, the firm currently manages about 24.5 trillion won ($18.3 billion) in assets as of end-September, channeling funds into corporate finance and a range of other sectors.

"We put together this special offer to provide competitive products and services tailored to our customers' diverse asset management needs," said Kim Do-hyun, a group head at Korea Investment & Securities. "We will continue to roll out products that help customers grow their assets, backed by stable asset management and rigorous risk management."