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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

NH NongHyup Financial to pool bank, brokerage and asset management strength to boost retirement pensions

NH NongHyup Financial said on Sunday it will strengthen its groupwide retirement pension business by linking the capabilities of its banking, brokerage and asset management affiliates. It plans to expand the scope of pension services by improving digital pension management convenience and using its agriculture, rural and local community networks. The group cited returns posted by NH NongHyup Bank and NH Investment & Securities, and said it will also use NH-Amundi Asset Management\'s global investment capabilities.

Finance

Five major brokerages post 58.5 trillion won Q2 operating profit on surging trading

Five major South Korean brokerages posted combined second-quarter operating profit of 58.5 trillion won on a surge in stock market trading value, with all five setting new quarterly records. Daily average domestic stock trading value rose 39.8 percent from the previous quarter to 118.1 trillion won including ETFs, lifting brokerage commissions. Mirae Asset Securities led profits, helped by valuation gains on investments including SpaceX. Korea Investment, Kiwoom, NH Investment and Samsung Securities also reported sharp rises.