Banks Collaborate with Universities to Promote Donation Culture

[Asia Economy Reporter Song Hwajeong] Banks are actively partnering with universities to promote a culture of donation.

According to the banking sector on the 1st, Shinhan Bank signed a business agreement with Konkuk University on the 30th of last month to "promote a culture of donation through trusts."

Under this agreement, both institutions promised mutual cooperation to foster the development of future talents and the spread of a donation culture by utilizing Shinhan Bank's testamentary substitute trusts and donation trust products.

Shinhan Bank's "Shinhan S Life Care Testamentary Substitute Trust" and "Shinhan S Life Care Donation Trust" are products that allow donors to entrust their assets to the bank and, in the event of their passing, donate the trust assets to posthumous beneficiaries (such as schools) designated in the trust contract. Through this, donors can securely protect their assets, receive living expenses from part of their assets to maintain a stable life, and make stable donations through a credible bank after their passing.

Additionally, Shinhan Bank offers personalized inheritance and donation planning services through its "Inheritance and Gift Consulting Round Service," composed of experts from the headquarters departments, providing specialized services such as ▲tax consulting ▲real estate investment advisory ▲legal review.

Hana Bank also signed a "business agreement to promote a culture of legacy donation" with Ewha Womans University on the 20th of last month.

Through this business agreement, both institutions plan to collaborate on various initiatives to not only spread the culture of donation but also activate legacy donations, which are gaining increased social interest and necessity due to the entry into a super-aged society.

First, Hana Bank provides professional financial solutions to customers who wish to donate their assets for public benefit. In addition to trust-based asset management services, legal, tax, real estate experts, and financial consultants belonging to the specialized inheritance planning organization "Living Trust Center" design and recommend customized testamentary substitute trusts and donation trust products, with plans to develop exclusive trust products for Ewha Womans University in the future.

Ewha Womans University is also systematically preparing to spread the culture of legacy donation by launching the "Legacy Donation Expert Advisory Committee," composed of internal and external professionals, and establishing the "Legacy Donation Counseling and Notarization Center."

Since April 2010, Hana Bank has provided lifestyle support financial services tailored to situations such as inheritance, gifting, and guardianship support through various asset management plans utilizing the first testamentary substitute trust in the financial sector, "Hana Living Trust," as well as ▲dementia-safe trusts ▲disability trusts ▲guardianship trusts.

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