Hana Bank Sells 3-Month Maturity Principal-Protected ELB Exclusively for Retirement Pensions

[Asia Economy Reporter Minyoung Kim] Hana Bank announced on the 25th that it will launch a 3-month maturity 'principal-protected equity-linked derivative bond (ELB)' exclusively for retirement pensions.

Typically, ELBs are issued with a 1-year maturity, but through collaboration with the issuer Kiwoom Securities, Hana Bank has launched the first 3-month maturity product for retirement pension providers. A Hana Bank official stated that it is expected to help increase customers' assets with higher returns compared to regular deposits.

This product is available to holders of corporate retirement pensions including Defined Benefit (DB) plans, Defined Contribution (DC) plans, and Individual Retirement Pensions (IRP).

Jangseong Lee, Head of Hana Bank's Pension Business Division, said, “Until now, short-term product management faced many constraints such as limited products and low interest rates, but with the launch of this product, a wider range of product choices has become possible. We will continue to provide optimal products to deliver greater satisfaction and joy to our customers.”