Woori Bank said on Jan. 11 it will launch the “Expert Pick” portfolio service from this year to provide standardised model portfolios tailored to customers’ life cycle and investment preferences.

Woori Bank said it has built an expert- and AI-based asset management system through ongoing upgrades to its retirement pension services.

The Expert Pick portfolio service provides monthly pension asset management strategies and portfolio operating status to retirement pension subscribers, including defined contribution plans and IRP accounts (individual and corporate).

Customers can apply through the MY retirement pension management banner in the Woori WON Banking app. They can choose between a sign-up service and a subscription service depending on whether they buy the expert-recommended portfolio, and use it free of charge.

The service offers 2 types of portfolios.

The accumulation-phase portfolio, suited to the period before retirement when pension assets are built up, consists of aggressive investment, active investment, risk-neutral, stability-seeking and stable types.

The withdrawal-phase portfolio, needed during the period after retirement when pension benefits are received, consists of risk-neutral, stability-seeking and stable types. Customers can choose a suitable portfolio depending on the asset-building phase or investment preference.

A Woori Bank official said, “Retirement pensions require not just product recommendations but ongoing management and tailored operating strategies.” The official added, “We will continue building a total pension management platform that customers can be satisfied with over the long term through improved, customer-centred services based on AI technology and experts.”