Choi Ik-seong, Vice President of Shinhan Bank (left), and Hwang Hee-jun, Director of External Cooperation at Hanyang University, are posing for a commemorative photo after signing a donation trust business agreement.
[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 13th that it has signed a business agreement with Hanyang University to mutually cooperate in fostering future talents and spreading the culture of donation through the 'Shinhan Life Care Donation Trust.'
The Shinhan Life Care Donation Trust is a product where donors entrust their assets to the bank while alive, and upon their passing, the trust property is donated to the designated posthumous beneficiaries (such as schools) specified in the trust contract.
Through this, donors can manage the trust assets by receiving a fixed amount monthly as living expenses during their lifetime, and after death, they can safely donate the remaining assets through the bank, achieving both livelihood maintenance and donation purposes simultaneously.
The Shinhan Life Care Donation Trust is available for new subscriptions starting from 100,000 KRW, and allows additional deposits, mid-term withdrawals of living expenses, as well as free cancellation.
A Shinhan Bank official said, "We hope that the business agreement with Hanyang University will help establish a donation culture that anyone can easily participate in," adding, "We will provide financial solutions with various customer-tailored trust products such as will substitutes, guardianship, and hospital expense trusts in line with the aging society."
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