Hana Bank Signs Agreement with Samsung Asset Management for Efficient Operation of DB-Type Retirement Pension

Cooperation for Creating a Long-Term Investment Environment in Retirement Pension Fund Management
Providing Defined Benefit (DB) Retirement Pension Asset Management Solutions Tailored to Company-Specific Characteristics

[Asia Economy Reporter Yu Je-hoon] Hana Bank announced that on the afternoon of the 1st, it signed a strategic business agreement (MOU) with Samsung Asset Management at its headquarters in Jung-gu, Seoul, to efficiently manage assets under the Defined Benefit (DB) retirement pension system.

Through this agreement, Hana Bank and Samsung Asset Management agreed to mutually cooperate in various areas including ▲building infrastructure for retirement pension asset management services ▲joint development of retirement pension products ▲consulting on retirement pension IPS establishment, asset allocation, risk management, and performance evaluation ▲retirement pension asset management education.

Additionally, Hana Bank plans to develop company-specific specialized products by utilizing asset management solutions incorporating Samsung Asset Management’s fund management expertise through collaboration with Samsung Asset Management. Based on this, they aim to further advance customized asset management services for each company by reflecting the revised Employee Retirement Benefit Security Act even within the Defined Benefit (DB) system.

Furthermore, Hana Bank will enhance its existing IPS consulting services to provide company-specific customized asset allocation solutions through ▲diagnosis and forecasting of company-specific retirement liabilities flow ▲derivation of target returns based on liability characteristics ▲building asset management infrastructure reflecting the company’s investment guidelines.

Kim Ki-seok, Vice President of Hana Bank’s Asset Management Group, stated, "As social interest in pension assets continues to grow, we feel an even greater sense of responsibility as a retirement pension operator. We will achieve qualitative growth with asset management solutions specialized for the Defined Benefit (DB) system to provide more efficient and systematic services in the steadily growing pension market."

Meanwhile, Hana Bank’s retirement pension reserves increased by 3.85 trillion KRW compared to the previous year, achieving the highest net increase in reserves among banks last year. In the fourth quarter of last year, it ranked first in DB and IRP returns among banks, solidifying its strong position in the retirement pension market.

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