Hana Bank and Yonsei University Sign Business Agreement to Expand 'Legacy Donation'

Hana Bank signed a business agreement with Yonsei University on the afternoon of the 12th at Underwood Hall, Yonsei University, located in Seodaemun-gu, Seoul, to promote legacy donations through trusts. The photo shows Park Seong-ho, President of Hana Bank (right), and Seo Seung-hwan, President of Yonsei University, posing for a commemorative photo at the signing ceremony. Photo by Park Sung-ho

[Asia Economy Reporter Kiho Sung] Hana Bank announced on the 13th that it has signed a business agreement with Yonsei University to promote legacy donations through trusts and will engage in various collaborative efforts to spread the culture of legacy giving.

Through the business agreement held the previous day, Hana Bank and Yonsei University plan to contribute to the activation of the legacy donation culture and provide professional and personalized financial solutions tailored to the financial demand of donating assets for public interest. They also plan to collaborate on various initiatives to expand ESG (Environmental, Social, and Governance) management through the creation of social value.

Legacy donation refers to donating all or part of one’s assets left after death to third parties such as public interest organizations. Recently, social interest in legacy donations has increased due to factors such as entering a super-aged society, the rise of single-person households, the increase of childless couples, and the spread of pursuing Well Dying.

Hana Bank’s experts from the ‘100-Year Living Trust Center,’ a specialized center for asset management and inheritance planning based on trusts, design and recommend donation trust products such as customized substitute wills. The Hana Bank ‘100-Year Living Trust Center’ consists of a total of 25 members, including 14 legal, tax, and real estate experts and 7 professional financial consultants, enabling systematic and individualized trust design according to the donor’s desired timing and method.

Yonsei University also plans to encourage legacy donations to potential donors such as alumni and Christian philanthropists through its unique university legacy donation program, the ‘Great Legacy, Great Challenge’ project.

At the business agreement ceremony, Park Sung-ho, CEO of Hana Bank, stated, “Going forward, Hana Bank will continue to provide customers with customized financial solutions in various everyday situations and make various efforts to practice ESG management through continuous social value creation.”

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