Hana Bank is joining hands with the incorporated association On Yul to promote asset management trusts for disabled people and to expand the adult guardianship system. The initiative aims to broaden financial and legal safeguards that can systematically manage and protect the assets of socially vulnerable groups, including disabled people and older adults.

Hana Bank said on June 17 it signed a business agreement on June 15 with On Yul to promote asset management trusts for disabled people and the adult guardianship system. On Yul is a public-interest foundation established by the law firm Yulchon for social contribution activities.

Under the agreement, the two organisations plan to cooperate in promoting asset management trusts and the adult guardianship system for socially vulnerable groups, including disabled people and older adults.

They will also develop a new type of testamentary substitute trust product to safely protect and systematically manage the posthumous assets of disabled people.

The two sides also set as a shared goal building an "inclusive society for disabled people" and a "dementia-safe society" in preparation for a super-aged society. They will work to popularise the adult guardianship and trust systems and improve ease of use. They also plan to cooperate on regular seminars and joint research.

A Hana Bank official said, "We will continue to prepare various support measures to expand inclusive finance for socially vulnerable groups."