Meritz Securities Signs MOU with Woori Bank to Enhance Competitiveness of Retirement Pension Products

Meritz Securities (CEO Choi Hee-moon) announced on the 12th that it has signed a "Business Agreement for Mutual Development of the Retirement Pension Business" with Woori Bank. The two parties agreed to actively cooperate to expand the supply of Meritz Securities' derivative-linked bonds (ELB/DLB) products and provide various investment products to Woori Bank's defined contribution/personal retirement pension (DC/IRP) customers.

The signing ceremony held at Woori Bank's headquarters at 12 PM the previous day was attended by Kim Kyung-sung, Vice President and Head of Capital Markets Division at Meritz Securities, and Park Bong-soon, Head of the Pension Business Group at Woori Bank.

Woori Bank has been exploring ways to diversify the product portfolio for DC/IRP subscribers and has been considering incorporating Meritz Securities' DLB products with maturities between 1 to 3 years. This is because they analyzed that there is high demand for derivative-linked bonds (ELB/DLB) issued by reputable securities firms among principal-guaranteed products, which are popular among retirement pension customers. In line with the diverse demand for principal-guaranteed products from customers, Woori Bank plans to start accepting subscriptions for Meritz Securities' DLB for DC/IRP subscribers through branches and online channels starting this month.

Meritz Securities plans to continuously develop new products to strengthen product competitiveness in the retirement pension market, using this DLB launch as an opportunity.

A representative from Meritz Securities stated, "Through this agreement, we will be able to regularly provide our competitive DLB products to Woori Bank's DC/IRP customers," adding, "We will satisfy various consumer demands by developing investment products that align with market conditions and changes in customer trends."

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