Hana Bank, Lotte Hotel to Offer Specialized Financial Products for Senior Residence Residents

Hana Bank announced on the 18th that it will work with Lotte Hotel & Resorts to support specialized financial products for residents of senior residences.

Kim Jinwoo, Deputy Head of the Asset Management Group at Hana Bank (right), and Kim Jitae, Head of Development at Lotte Hotels & Resorts, pose for a commemorative photo holding a memorandum of understanding to support specialized financial products for residents of senior residences at Hana Bank's Euljiro headquarters in Jung-gu, Seoul, on the 13th. Provided by Hana Bank.

In connection with this, the two companies signed a business agreement at Hana Bank’s Euljiro headquarters in Jung-gu, Seoul, on the 13th.

This agreement was prepared to provide more systematic support for various financial needs of senior residence residents, including living expense management, fund management, and wealth transfer. Through the agreement, the parties will support financial products exclusively for residents and continue to cooperate in various areas such as joint program and service development and joint marketing.

For senior residence residents, Hana Bank will provide customized financial products and comprehensive wealth management services based on Hana Financial Group’s senior-specialized brand “Hana The Next.” By connecting its private banking channels such as PB Centers and Club1, the bank will also support living expense management as well as inheritance and gifting.

In addition, reflecting the asset management and wealth transfer needs of senior residence residents, Hana Bank will offer financial products and services based on living trusts, such as will-substitute trusts, and will present its own differentiated financial solutions that combine finance and housing, including rational fund management and operation utilizing residential assets.

Kim Jinwoo, Executive Vice President of the Wealth Management Group at Hana Bank, said, “This agreement is meaningful in that it sets the direction of financial support based on the actual daily lives of senior residence residents,” adding, “Through senior-tailored financial products such as Hana The Next and living trusts, we will help our customers manage their assets stably and operate the funds needed for their retirement in a rational way.”

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