Account	This month		2025 Cumulative Amount
	KRW	USD	KRW	USD
Pension Saving Fund	4.5M	–	6.0M	–
ISA	5.7M		5.7M
IRP	3.0M		3.0M
Roth IRA	–	$2,000	–	$4,000
Total	13.2M	$2,000	14.7M	$4,000

Bonuses and annual leave allowance season has arrived, so I invested almost everything I received into my pension account. With this, I’ve completed my planned KRW account contributions for the year.

I will receive tax deductions for the 9 million KRW contributed to the pension savings fund + IRP. Additionally, with the cumulative ISA contribution of 30 million KRW, I plan to transfer the ISA to the pension savings fund upon its three-year maturity and claim a 3 million KRW tax deduction.

Due to buying at a high price and the market downturn, my portfolio value took a hit. Reaching the 200 million KRW mark will have to wait until next month.

After the termination of TR ETF products last month, I discovered another issue — dividend withholding tax. There’s been controversy around double taxation, and I expect a solution will be introduced soon. However, for now, I’ll reinvest the withheld dividends.

Previously, receiving 100 KRW in dividends meant reinvesting the entire amount. Now, 15% withholding tax reduces that to 85 KRW for reinvestment. Assuming an average annual growth rate of 10% and a 2% dividend yield, the loss from withholding tax amounts to approximately 0.3%. [10% + 2% * (1-15%)] / 12% – 1

From the National Tax Service’s perspective, the withholding tax makes sense — they aren’t obligated to pay taxes on our behalf upfront. While this is a hassle for long-term investors with tax-advantaged accounts, I hope a reasonable solution emerges soon.