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Finance

Hana Bank launches C-level pension consulting linking severance, tax and wealth management

Hana Bank is rolling out a dedicated consulting service for corporate CEOs and executives that links retirement pensions with tax advice and post-retirement asset management. The bank said the tailored, comprehensive solution reflects demand from wealthy clients seeking guidance on retirement-time taxes, use of management performance bonuses and wealth planning after retirement. It will also provide executive severance tax planning, pension operation and payout advice, and corporate retirement pension consulting, including English proposals for foreign executives.

Finance

Hana Bank to sell first guaranteed performance-linked insurance in Korean banking sector

Hana Bank will begin selling a guaranteed performance-linked insurance product for individual retirement pension (IRP) customers in partnership with Mirae Asset Life Insurance. The bank said it signed a business agreement on Aug. 28 and will offer the product at branches nationwide from Sept. 1. It said this is the first time a Korean bank has sold such insurance. The product combines investment performance with guaranteed pension payments over 20 years.

Finance

Retirement pension in-kind transfers reach 15.9 trillion won, 5.2 trillion won shifts from banks to securities firms

In-kind transfers of retirement pension assets, which allow subscribers to switch financial firms without redeeming products, have reached 15.9 trillion won about 20 months after launch, data showed. About 5.2 trillion won moved from banks to securities firms, highlighting a shift of money toward brokerages. The Financial Supervisory Service said it launched a task force to improve the service and plans system development and other measures through 2027.