Search results for senior residence
Finance
National Participation Growth Fund sells out as financial sector steps up payment ecosystem expansion
South Korea\'s National Participation Growth Fund effectively sold out on its first day of sales, with more than 87 percent of supply taken up and some online allotments closing in 10 minutes. Financial authorities are reviewing options to bring forward next year\'s supply or add more, with additional sales in the second half also discussed. Markets also saw spillover effects, while financial institutions and fintech firms moved to expand payment ecosystems and data-driven services.
Fintech
KB Kookmin Bank launches trust to transfer senior residence deposits to heirs
KB Kookmin Bank launched a will-substitute trust service for customers living in senior residences, designed to safeguard move-in deposits and support inheritance after death. The service allows the bank, under the trust contract, to receive the returned deposit when the customer dies and transfer it to a designated beneficiary. Eligible customers are residents of senior facilities in South Korea who have paid a move-in deposit.
Finance
Hana Bank signs business agreement with Lotte Hotels and Resorts
Hana Bank said on Feb. 18 it signed a business agreement with Lotte Hotels and Resorts on Feb. 13 at its headquarters in Euljiro, central Seoul, to support tailored financial products for residents of senior residences. The agreement aims to systematically support needs such as living expense management, fund management and asset transfers. The partners plan to cooperate on dedicated products, joint programs and service development, and joint marketing.