Shinhan Bank Signs Donation Trust Business Agreement with Dongguk University

Expanding Donation Culture and Providing Publicly Beneficial Financial Solutions through Donation Trusts

Choi Ik-seong, Group Head of Shinhan Bank (right), and Jongho Seunim, Vice President for Planning at Dongguk University, are posing for a commemorative photo after signing the agreement.

[Asia Economy Reporter Kwangho Lee] Shinhan Bank and Dongguk University announced on the 26th that they have signed a donation trust business agreement to foster future generations and promote a culture of giving.

The "Shinhan Life Care Donation Trust" is a product where donors entrust their assets to the bank while alive, and upon their passing, the trust property is donated to the designated posthumous beneficiaries (such as schools) specified in the trust contract.

Reflecting the diverse needs of donors, Shinhan Bank has newly launched a living expense deposit service, which allows donors to receive a fixed amount of the entrusted trust assets as monthly living expenses during their lifetime, and donate the remaining assets after death. This enables donors to maintain economic stability while achieving their donation goals simultaneously.

The Shinhan Life Care Donation Trust can be newly established with a minimum of 100,000 KRW, and allows additional deposits, mid-term withdrawals of living expenses, and free termination.

A Shinhan Bank official said, "We hope that the culture of giving using trusts will take root through the business agreement with Dongguk University," adding, "Shinhan Bank will provide financial solutions with customized trust products tailored to an aging society, including will substitutes, inheritance, gifts, welfare, and hospital expense payments."

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