Mirae Asset Daewoo Surpasses 200 Billion KRW in Non-Face-to-Face Pension Balances

[Asia Economy Reporter Song Hwajeong] Mirae Asset Daewoo announced on the 28th that the balance of its direct pension accounts (personal pension + IRP) has surpassed 200 billion KRW.

The balance of Mirae Asset Daewoo's direct pension accounts grew 15-fold from 12.6 billion KRW at the end of 2017 to 200 billion KRW in May 2020, with an increase of over 60 billion KRW in the first quarter of this year alone.

Mirae Asset Daewoo cited factors for the balance increase including strengthening untact marketing to activate non-face-to-face transactions, securing competitive advantage through expansion of pension infrastructure, increased customer preference for performance-linked products, and the expansion of non-face-to-face transactions due to the novel coronavirus infection (COVID-19).

While the social distancing practice due to COVID-19 is significant, Mirae Asset Daewoo has been strengthening untact consulting and marketing to respond to diversification of financial transaction channels. The sharp increase in direct accounts, where customers open accounts non-face-to-face and manage assets themselves without choosing branch management, is seen as evidence that untact marketing was effective.

On Mirae Asset Daewoo’s official YouTube channel ‘Smart Money,’ various pension knowledge essential for customers who have joined or are preparing to join a pension is provided through ‘Pension Academy - The Real Expert’s Full Pension Class’ and ‘Tell Me! Pension Master - The Real Expert’s Pension Stories.’

Mirae Asset Daewoo’s pension experts, including tax accountants, appear directly to introduce pensions in an easy-to-understand manner, and continuously upload pension video proposals on various topics every first and third Wednesday of the month.

A Mirae Asset Daewoo official said, “Due to COVID-19, we will do our best to find optimized methods such as untact consulting to enhance convenience so that customers do not feel inconvenience, while providing high-quality services.”

Mirae Asset Daewoo opened the industry’s first Pension Asset Management Center in 2018 and operates it, offering pension consultations to all citizens nationwide regardless of whether they are customers of the company.