Military Mutual Aid Association Assets Surpass 20 Trillion Won... Net Profit Exceeds 350 Billion Won for 2 Consecutive Years

Returned 571.4 Billion Won to Members... Largest Ever

The Military Mutual Aid Association surpassed 20 trillion won in assets for the first time last year. It also set records for the highest business profit and the largest return of member welfare expenses. This achievement is evaluated as the result of stable management of investment asset portfolios and diligent risk management despite uncertain domestic and international economic conditions.

On the 27th, the Military Mutual Aid Association announced that it approved the 2024 fiscal year settlement with assets of 20.46 trillion won and business profits of 925.8 billion won at the 123rd General Assembly held the previous day. The asset increase of 2.86 trillion won compared to the previous year marked the largest growth ever. Compared to the 2.3 billion won in assets at its establishment in 1984, it has grown nearly 9,000 times in 40 years.

Last year, business profits reached 925.8 billion won, of which 571.4 billion won was returned as member welfare expenses. This is the largest amount returned to members since its founding. It is an increase of 92.3 billion won compared to the previous year's member welfare expenses. The increase in business profits was due to stable operation of the investment asset portfolio and thorough management of investment business risks.

Despite returning member welfare expenses at the largest scale ever, a net income of 354.4 billion won was achieved. This marks the second consecutive year exceeding 350 billion won. Accordingly, the capital surplus, a key indicator in the financial soundness evaluation of mutual aid institutions, recorded 2.3264 trillion won. Capital surplus refers to the excess funds remaining after paying members' principal and interest in a lump sum. With nine consecutive years of profitable management, the member principal and interest payment reserve ratio also maintained the highest level ever at 117.5%.

Jae-Kwan Jeong, Chairman of the Military Mutual Aid Association, said, "We were able to achieve the greatest management performance ever thanks to the continuous trust and support of our members," and added, "Based on solid management performance, we will do our best to provide more member welfare."

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