KB Securities Signs Business Agreement with Kim & Chang Law Office for 'KB Life Trust' Collaboration

KB Securities announced on the 1st that on the 26th, it signed a strategic business agreement (MOU) with Kim & Chang Law Office in connection with KB Securities' comprehensive property trust service, 'KB Life Trust.'

On the 26th, at the KB Securities headquarters in Yeouido, Seoul, (from left) Jeon Chang-hyun, Head of Customer Asset Strategy at KB Securities, Kim Min-su, Head of Customer Asset Management Center, Yoon Man-chul, Head of Customer Solutions Division, and attorneys Heo Young-man, Lee Hak-jin, and Eun Jeong-min from Kim & Chang Law Office are posing for a commemorative photo of the business agreement ceremony. Photo by KB Securities

KB Life Trust is a comprehensive property trust service launched by KB Securities in 2022, encompassing testamentary substitute trusts, gift management trusts, trusts for supporting disabled persons, and real estate management trusts. It provides a variety of asset succession plan functions tailored to customer needs.

The signing ceremony took place at KB Securities headquarters in Yeouido, Seoul, with attendees including Yoon Man-chul, Head of Customer Solutions Division at KB Securities, Kim Min-su, Head of Customer Asset Management Center, and Heo Young-man, attorney at Kim & Chang Law Office.

Through this business agreement, KB Securities plans to continuously resolve various legal and tax issues related to the KB Life Trust service with Kim & Chang Law Office and strengthen ongoing cooperation regarding future revisions to trust industry innovation measures.

In particular, Kim & Chang Law Office, the largest law firm in Korea, holds a top-tier position across all fields including finance and taxation, and provides the highest level of professional services with the largest number of experts in the industry in areas such as business succession and family inheritance.

KB Securities and Kim & Chang Law Office will mutually cooperate in various areas through this agreement, including ▲ legal advice and consulting for new product development such as testamentary substitute trusts ▲ legal and tax advice related to testamentary substitute trusts ▲ regular and ad hoc training and seminar support ▲ and consultation on other issues.

The testamentary substitute trust is a service where the subscriber entrusts assets to the trust during their lifetime for asset management and, after death, the assets are inherited by the designated beneficiaries according to the established method. This service aims to minimize legal disputes arising during inheritance or gift processes as society enters a super-aged era.

Yoon Man-chul, Head of Customer Solutions Division at KB Securities, said, "Through this business agreement with Kim & Chang Law Office, KB Securities can provide higher quality services for customers." He added, "We will focus on strengthening property management function services that combine the expertise of both companies in designing and operating customized asset succession plans according to diverse customer needs."

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