Best Investing Apps in South Korea ( For Beginners )

Yasin Nabi

11 Jul 202206:15

Summary

TLDRIn this informative video, Yasin addresses the needs of foreigners looking to invest in South Korea by discussing the best investing apps, the importance of eligibility, and the necessity of a consistent investment strategy. He warns against potential scams, recommends starting with small investments, and suggests index funds and tech companies as viable options. Yasin emphasizes the value of long-term planning and consistency for potential wealth accumulation, while also inviting viewers to engage with the channel for further questions and support.

Takeaways

🌐 The video is about the best investing apps in South Korea for foreigners.
🤔 Three key questions for foreigners to consider before investing in South Korea are: eligibility, duration of stay, and consistency of investment.
📱 There are various investing apps available, but caution is advised due to the presence of scams; recommended to use legal securities offices.
🏦 Securities offices like Namu, Chang, Shinhan, and others are suggested for their legality and low fees.
💰 Start with a small investment, like 50,000 Korean won (less than 50 USD), to learn the basics of investing and trading.
🕊 If staying less than a year in South Korea, investing is not recommended for wealth gain, but learning purposes are acceptable.
📈 For long-term stays, investing in tech companies or index funds is suggested, as they are well-analyzed and offer potential growth.
🌍 Foreigners with a valid visa can invest in foreign stocks, such as US, Canadian, or Australian, through South Korean securities offices.
💼 Consistent investing is crucial for portfolio growth; sporadic large investments are not as effective as regular smaller ones.
📊 A long-term investment plan, ideally starting from an early age, is recommended for those aiming to become rich or retire wealthy.
✉️ The presenter offers to answer specific questions through video, chat, or phone calls and encourages viewers to subscribe and engage with the channel.

Q & A

What is the main topic of the video?
-The main topic of the video is about the best investing apps in South Korea for foreigners.
What are the three key questions the presenter suggests foreigners should ask themselves before investing in South Korea?
-The three key questions are: 1) What are the investing apps? 2) How long will you stay in South Korea? 3) Are you able to invest consistently?
Why does the presenter warn against using certain investing apps without proper research?
-The presenter warns against using certain investing apps due to the presence of scammers who aim to take away investors' money.
What type of places can foreigners go to for advice on investing in South Korea?
-Foreigners can go to securities offices in different cities in South Korea, such as Cookman Securities, Uri Securities, Samsung Securities, and Hyundai Securities.
What is the recommended initial investment amount for someone new to investing in South Korea?
-The recommended initial investment amount is 50,000 Korean won, which is less than 50 US dollars.
Why does the presenter advise against investing in South Korea if you are staying for less than a year?
-The presenter advises against investing for less than a year because it's unlikely to make significant money or get rich in such a short period.
What types of stocks does the presenter recommend for foreigners looking to invest in South Korea?
-The presenter recommends tech companies like Coupang and KakaoTalk as well-analyzed stocks, but also suggests index funds as a safer option.
Can foreigners invest in foreign stocks while in South Korea?
-Yes, foreigners can invest in foreign stocks such as US, Canadian, or Australian stocks in South Korea as long as they have a legal status and a valid visa.
What is the importance of consistency when it comes to investing in South Korea according to the presenter?
-Consistency is important for portfolio growth. Investing a small amount regularly can lead to significant growth over time.
What is the presenter's advice for those who are in their early 20s or 30s and considering investing in South Korea?
-The presenter advises that starting to invest in the early 20s is highly recommended, and even in the early 30s, it's still okay to start as long as it's done consistently with a long-term plan.
How can viewers get in touch with the presenter for more questions or assistance?
-Viewers can comment below the video, or contact the presenter through email for more questions or assistance.

Outlines

00:00

🤑 Best Investing Apps in South Korea for Foreigners

Yasin introduces a video aimed at helping foreigners find the best investing apps in South Korea. He emphasizes the importance of three key questions for potential investors: the legitimacy of the apps, the duration of their stay in South Korea, and their ability to invest consistently. He warns against scams and recommends starting with small investments to learn the ropes. Yasin suggests visiting local securities offices for guidance and mentions a few, like Namu Chang and Shinhan. He also advises on the importance of investing in index funds and the possibility of investing in foreign stocks with a valid visa.

05:02

💼 Long-Term Consistent Investing for Wealth Accumulation

The second paragraph focuses on the importance of a long-term investment strategy for building wealth. Yasin advises against the misconception of getting rich quickly and instead promotes the idea of consistent, monthly investments to grow one's portfolio gradually. He suggests that starting early, even in one's 20s, and continuing to invest consistently can lead to significant wealth over time. Yasin also touches on the possibility of transferring investments back to one's home country after living in South Korea for an extended period, highlighting the role of technology in making such transfers feasible.

Mindmap

Keywords

💡Investing Apps

Investing apps are digital platforms that allow individuals to manage and execute financial investments, such as stocks, bonds, or mutual funds. In the video, the theme revolves around the best investing apps in South Korea for foreigners, emphasizing the importance of choosing legitimate and secure platforms to avoid scams.

💡Eligibility

Eligibility refers to the qualifications or requirements one must meet to be allowed to participate in a particular activity, such as investing in a country's financial market. The video script mentions that foreigners must determine if they are eligible to invest in South Korea, which is crucial for understanding the legal and financial implications of investing as a non-resident.

💡Securities Offices

Securities offices are physical locations where investors can access services related to the buying and selling of securities, such as stocks and bonds. The script mentions various securities offices in South Korea, like Samsung Securities and Hyundai Securities, as legitimate places for foreigners to seek advice and start investing.

💡Consistency

Consistency in investing refers to the regular and continuous practice of investing a certain amount of money over time. The video emphasizes the importance of consistent investing to grow one's portfolio gradually, rather than making sporadic large investments and expecting immediate returns.

💡Portfolio

A portfolio is a collection of financial assets such as stocks, bonds, and cash equivalents held by an investor. The script discusses the growth of an investment portfolio through consistent investing, illustrating the concept with examples like investing a small amount regularly to accumulate over time.

💡Index Funds

Index funds are a type of mutual fund with a portfolio constructed to match or track the components of a financial market index, like the S&P 500. The video suggests investing in index funds as a safer and more predictable option for foreigners who may not be familiar with the South Korean market.

💡Foreign Stocks

Foreign stocks refer to shares in companies that are listed and traded outside of an investor's home country. The script mentions that foreigners can invest in foreign stocks, such as those from the US, Canada, or Australia, through securities offices in South Korea, providing a way to diversify their investments.

💡Long-term Plan

A long-term plan in the context of investing refers to a strategy that spans many years, with the goal of achieving significant financial growth over time. The video encourages viewers to have a long-term perspective, especially if they are in their early 20s or 30s, as it is beneficial for wealth accumulation.

💡Tech Companies

Tech companies are businesses that operate primarily in the technology sector, often involved in the development or provision of software, hardware, or digital services. The script specifically recommends tech companies like 'coupon' and 'coco talk' as well-analyzed stocks for potential investment, indicating a belief in the growth potential of the technology sector.

💡Risk

Risk in investing refers to the potential for financial loss or the uncertainty of returns on an investment. The video advises starting with a small amount of money to learn about investing and trading, thus managing the risk associated with unfamiliar markets or platforms.

💡Scammers

Scammers are individuals or entities that engage in fraudulent practices to deceive others, often for personal gain. The script warns about the presence of scammers who have created fake investing apps, cautioning viewers to be careful and to verify the legitimacy of any app before investing money.

Highlights

Yasin introduces the video's topic: the best investing apps in South Korea for foreigners.

Foreigners often ask for recommendations on investing apps in South Korea.

Investors should ask themselves three key questions before investing in South Korea.

The first question is about the legitimacy of the investing apps.

The second question is about the duration of the foreigner's stay in South Korea.

The third question is about the consistency of investment.

Yasin advises subscribing to the channel for more informative videos.

Different types of securities offices in South Korea are mentioned as reliable sources for investment.

A warning is given about potential scams in online investing apps.

Recommendation to start investing with a small amount to learn the process.

If staying less than a year in South Korea, investing may not be recommended.

Long-term stay in South Korea makes investing more viable.

Tech companies like Coupang and Kakao are suggested as well-analyzed stocks.

Index funds are recommended for a safer investment approach.

Foreign stocks can also be purchased in South Korea with a valid visa.

Consistent investing is emphasized for portfolio growth.

A long-term investment plan is crucial for wealth accumulation.

Yasin offers to answer questions through various communication methods.

The video concludes with an invitation to subscribe and engage with the channel.