[Weekly Savings Banks] SBI Sells Off 1 Trillion in Retirement Pensions · Welcome Wins Top Digital Advertising Award

[Asia Economy Reporter Minyoung Kim] Savings bank retirement pensions are selling like hotcakes. In particular, industry leader SBI Savings Bank has surpassed 1 trillion KRW in retirement pension sales.

◆SBI Achieves 1 Trillion KRW in Retirement Pension Performance

SBI Savings Bank announced that its retirement pension fixed deposit product, launched in November 2018, surpassed 1 trillion KRW in new sales within 1 year and 2 months of its release.

As the low interest rate trend continues, more consumers seeking products offering even slightly higher interest rates are joining the retirement pension fixed deposit product, especially customers interested in financial investment.

SBI Savings Bank’s retirement pension fixed deposit has shown steady growth in performance, supported by high interest rates and expanded sales channels through business agreements with 24 financial companies including banks and insurance firms.

As of the 20th, the product interest rates are 2.0% per annum (12 months basis, before tax) for Defined Contribution (DC) and Individual Retirement Pension (IRP) types, and 2.4% for Defined Benefit (DB) type.

An SBI Savings Bank official stated, “To achieve high returns and stable management, not only individual customers but also corporate clients are subscribing to the retirement pension fixed deposit.”

◆Welcome Wins Best Digital Advertising Award

Welcome Savings Bank’s dream tech project ‘Run for Dream,’ produced last year, won the Grand Prize, the highest excellence award in the banking and capital category at the ‘2019 A Awards’ digital advertising competition.

According to Welcome Savings Bank, the A Awards, hosted by the Korea Digital Association, recognized the moving story of a visually impaired marathon runner completing the Athens International Marathon alone with the help of an assistive device called ‘Welcome Dream Glasses.’

Additionally, the project was highly praised for depicting experts from various fields working together from the start to realize the hope of a ‘dream,’ which resonated strongly with viewers.

Park Seongsu, director of Welcome Savings Bank, said, “Welcome Savings Bank will continue to carry out social contribution activities that the public can relate to through various projects.”