Hana Bank announced in mid-June that it recently signed a business agreement with Yonsei University Gangnam Severance Hospital to spread the culture of donations through trusts.
The event took place in the conference room of Gangnam Severance Hospital.
According to the results of the 2020 Population and Housing Census by the National Statistical Office, the proportion of single-person households in Korea continued to rise from 15.5 percent in 2000 to 31.7 percent in 2020.
There were 1.66 million elderly single-person households, accounting for 21.2 percent of those 65 years old or older in Korea.
Through the agreement, the two organizations plan to offer the design of donation plans, in accordance with donors’ financial situations, and cooperate to spread and establish the culture of heritage donations in the advent of the aging era.
Hana Bank develops and proposes donation trust products, such as customized wills, will-based trusts by legal, tax, real estate and financial experts at the Living Trust Center, a trust-based asset management and inheritance design specialized organization.
It is possible to systematically and individually design trusts, depending on when and how a donor wants them. Hana Bank plans to develop trust products exclusively for Gangnam Severance Hospital in the future.
The bank and the hospital have prepared to provide various benefits in a show of respect for donors’ own philosophies. When people decide to donate their heritage through trusts, Hana Bank will add a service function for real-life care to the trust product and provide customized benefits, combined with Hana Bank’s PB services, so that donors will be respected and taken care off until the end of their lives.
“Just as Severance Hospital’s good sharing has been realized through the modernization of Korean medical care today, we expect this partnership to serve as pump priming water for the promotion of a heritage donation culture in Korea,” said Kim Ki-seok, vice president of the Asset Management Group at Hana Bank in the business agreement ceremony.
“Hana Bank will continue to be a reliable partner in customers' lives by introducing optimal financial solutions tailored to the needs of various customers including single-person households.”
“We can provide more diverse and meaningful donation counseling services to donors through trusts of Hana Bank,” said Song Young-gu, head of Gangnam Severance Hospital.
“We expect Severance Hospital to spearhead in diffusing an inheritance donation culture with Hana Bank which has accumulated rich asset management know-how in Korea.”
Hana Bank provides living support financial services tailored to circumstances such as inheritance, gift, and guardianship through various asset management plans using dementia relief trusts, trusts for people with disabilities, guardianship trusts among others by launching Hana Living Trust in April 2010.
In particular, Hana Bank is sincerely implementing ESG management through the steady creation of social values by playing a leading role in the spread of the culture of heritage donations through business agreements with leading universities and colleges in Korea.
Meanwhile, Hana Bank announced that it has signed an agreement with Aibizon, which operates the AI-powered management solution platform “Tax Special Force,” to develop financial solutions that can boost the convenience of individuals and corporations.
Through this business agreement, Hana Bank’s own application programming interface (API)-linked “Simple Salary Transfer Service” will be available on the “Tax Special Force” platform.
Hana Bank’s Simple Salary Transfer Service reduces the burden of small enterprises and small business owners by easily registering salary transfer tasks, and confirming accounts and amounts with just a few clicks.
“We are planning future-oriented services, such as actively linking with B2B solution startups based on the Simple Salary Transfer Service, developed through an API method and establishing a Banking As A Service (BaaS) channel,” a Hana Bank official said.