Shinhan Bank Launches 'Shinhan S Life Care Gift Trust' Offering Gift, Tax Saving, and Investment Benefits

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 7th that it has launched the 'Shinhan S Lifecare Gift Trust,' which allows customers to enjoy pre-gifting, long-term investment, and tax benefits all at once.

The Shinhan S Lifecare Gift Trust is a renewed product of the existing gift trust, reflecting the customer's life cycle and providing Shinhan Bank's unique solution. It has strengthened its product competitiveness by newly including government bonds, monetary stabilization bonds, and value stocks as operating assets, along with exchange-traded funds (ETFs), which were not part of the existing gift trust's operating assets.

The Shinhan S Lifecare Gift Trust is a product that utilizes the gift tax exemption limit available every 10 years for long-term investment, allowing customers to receive tax benefits on the investment income generated. It can be operated in three types depending on the use of funds and gifting method.

First, customers who find it burdensome to gift cash to beneficiaries in a lump sum or want to save on gift tax can gift through government bonds and monetary stabilization bonds, which allow the division and payment of gifted assets every six months for over 10 years.

Customers who want to pre-gift cash in a lump sum and then invest the gifted assets to support the beneficiary's asset formation through investment income can operate funds with ETFs. Customers who want to entrust investments to experts and seek returns can choose value stock (relatively undervalued) products.

This product sets maturity on an annual basis for over 10 years. For operating assets, government bonds and monetary stabilization bonds require a minimum subscription of 200 million KRW, and ETFs and value stock products require at least 20 million KRW. Gift tax filing agency services are provided to subscribing customers.

A Shinhan Bank official said, "We launched the Shinhan S Lifecare Gift Trust for customers who want all the benefits of gifting, tax savings, and investment," adding, "We will continue to provide customized solutions to customers who want asset succession through gift trusts and will trusts."

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