Shinhan Bank and Korea Housing Finance Corporation Join Hands to Revitalize Housing Pension... First Among Commercial Banks

Shinhan Bank announced on the 2nd that it signed a business agreement with Korea Housing Finance Corporation at the Shinhan Bank headquarters located in Jung-gu, Seoul, to promote the housing pension. Shinhan Bank is the first commercial bank to sign a business agreement related to the housing pension with the Korea Housing Finance Corporation.

On the 27th, when the amendment to the Korea Housing Finance Corporation Act, which expands the eligibility criteria for housing pension enrollment from houses with a current official price of 900 million KRW or less to those up to 1.2 billion KRW, passed the National Assembly's Political Affairs Committee bill subcommittee, a notice related to the housing pension was posted at the Korea Housing Finance Corporation Seoul Jungbu Branch in Jung-gu, Seoul. Photo by Dongju Yoon doso7@

The housing pension is a product where the state guarantees pension payments when a house is provided as collateral, and any remaining house value is paid to the heirs. Recently, interest in pensions has increased, making it popular with many new subscribers this year.

Through this business agreement, Shinhan Bank and the Korea Housing Finance Corporation plan to jointly carry out projects such as ▲online and offline promotion of housing pension products ▲establishment of a housing pension consultation process at Shinhan Bank branches ▲operation of retirement preparation consulting seminars.

In addition, Shinhan Bank is promoting various projects for seniors and financially marginalized groups, including opening the ‘Shinhan Pension Lounge’ that provides solutions for lifelong income through the mobile application 'Shinhan SOL', and the financial consumer education center ‘Shinhan Hakijae’, which conducts digital financial device and voice phishing prevention education.

Jung Sang-hyuk, CEO of Shinhan Bank, said, “Although the number of senior customers is rapidly increasing due to the rapid aging of the population structure, some customers lack preparation for a stable retirement life. We will actively communicate and cooperate with the Korea Housing Finance Corporation so that all customers can prepare for a stable retirement.”

From the 3rd, consultations on the Korea Housing Finance Corporation’s housing pension will also be available at all Shinhan Bank branches.

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