The government failed to lure Korean retail investors in U.S. stocks back to the local market even after introducing reshoring investment accounts (RIAs) in March, financial investment industry watchers said Thursday. They said growing volatility in the domestic stock market has left retail investors increasingly fatigued, while interest in U.S. stocks has picked up again. Tax benefits alone are unlikely to reverse retail investors’ preference for U.S. stocks, as they tend to prioritize returns over tax savings, they added. The RIA scheme was introduced to help stabilize the Korean won and shore up the local stock market. Under the program, investors can transfer overseas shares acquired by Dec. 23 last year to an RIA account at a Korean brokerage, sell them and invest the proceeds in local stocks or domestic equity funds for a year to qualify for a capital gains tax break. The tax deduction was set at 80 percent for overseas shares settled by the end of July and falls to 50 percent for sales settled from August through December. The full 100 percent deduction expired at the end of Ma