The Korea Herald


Toss Securities launches service for gifting stock like coffee

By Park Ga-young

Published : July 15, 2021 - 16:18

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Toss Securities, the brokerage arm of fintech company Viva Republica, on Thursday said that it launched a stock gifting service to make investing easier.

The new service allows users to give away their stocks to others, just by submitting a real name and phone number, like they do to virtually send coffee or other presents via mobile messenger service KakaoTalk.

The company said the new service is part of the company‘s efforts to expand market access for new investors.

Earlier this year, Toss Securities gave out one stock to new customers opening accounts for the service. Through the promotional event, it has attracted 2 million users.

The mobile-only brokerage house will also introduce a gift-reporting service in the third quarter to help investors with tax issues that could arise in the process of exchanging stocks as gifts. Gifting stocks can be subject to taxation according to the relationship between traders and the value of gifted stocks.