Mirae Asset Daewoo Signs 'Retirement Pension Business Agreement with Korea Workers' Compensation and Welfare Service'

Performing the Role of Retirement Pension Asset Management Institutions for Workplaces with Fewer Than 30 Employees
Expected Enhancement of Retirement Income Security by Improving Returns for Small Business Subscribers

[Asia Economy Reporter Song Hwajeong] Mirae Asset Daewoo announced on the 29th that it has been additionally selected as an asset management institution for the Workers' Welfare Corporation's retirement pension business and signed a business agreement.

The Workers' Welfare Corporation operates a retirement pension business for workplaces with fewer than 30 employees, and to expand the financial product choices for subscribers and improve returns, it plans to start operations by selecting Mirae Asset Daewoo and Kyobo Life Insurance in addition to the existing three operators.

Mirae Asset Daewoo surpassed 10 trillion KRW in reserves at the end of 2019 and leads the retirement pension market, ranking first among all operators in the disclosed retirement pension yield (based on DC and IRP). In particular, it is the first retirement pension operator to run a global asset allocation wrap and the only one to provide listed REIT trading services, prioritizing stable performance for retirement pension subscribers based on its product supply and asset allocation capabilities.

Choi Hyunman, Senior Vice Chairman of Mirae Asset Daewoo, said, "We will do our best to apply the know-how accumulated through Mirae Asset Daewoo's retirement pension business, especially the stable yield management techniques through global asset allocation, to the Workers' Welfare Corporation's retirement pension business, thereby enhancing returns and strengthening retirement income security for small and medium-sized enterprise retirement pension subscribers."

The asset management institution service of Mirae Asset Daewoo for the Workers' Welfare Corporation's retirement pension through this agreement is scheduled to be implemented in the second half of the year after system construction.

This content was produced with the assistance of AI translation services.