Fubon Hyundai-KB Kookmin Bank, Business Agreement for Providing Retirement Pension Products
Fubon Hyundai Life announced on the 8th that it has signed a business agreement with KB Kookmin Bank to provide retirement pension products.
View original image[Asia Economy Reporter Oh Hyung-gil] Fubon Hyundai Life announced on the 8th that it has signed a business agreement with KB Kookmin Bank to provide retirement pension products.
In addition to the existing DB type (defined benefit), Fubon Hyundai will now offer DC type (defined contribution) and IRP (individual retirement pension) products.
Fubon Hyundai's retirement pension assets have steadily increased from 4.6 trillion KRW in 2016 to 7.7 trillion KRW as of September this year, ranking second in the industry.
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A Fubon Hyundai official stated, "As low interest rates continue, there is growing interest in managing the returns of DC type and IRP, where individuals directly instruct the management of their accumulated funds. The advanced customer management know-how of KB Kookmin Bank combined with Fubon Hyundai Life's product competitiveness will create synergy in the retirement pension market."
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