Woori Bank Launches Campaign to Locate Long-Term Dormant Trusts

Trust Accounts Subject to More Than 5 Years Elapsed Since Final Transaction Date or Maturity Date in December

[Asia Economy Reporter Song Hwajeong] Woori Bank announced on the 30th that it will conduct a 'Long-term Dormant Trust Account Recovery' campaign for one month starting from the 1st of next month.

The targets are trust accounts that have passed more than five years since the trust contract maturity date or the last transaction date, and in the case of personal pension trusts and pension savings trusts, accounts with a maturity date passed and a balance of less than 1.2 million KRW.

Woori Bank will send notification letters by mail to eligible customers holding accounts with a balance of 30,000 KRW or more, and additionally provide related information via email or phone.

The status of long-term dormant trust holdings can be checked at Woori Bank branches, internet banking, mobile banking, or the integrated account information management service. Customers can visit the nearest Woori Bank branch with an ID card or receive trust funds through non-face-to-face channels (internet banking, mobile banking, integrated account information management service).

A Woori Bank official said, "We conduct the long-term dormant trust account recovery campaign every year," adding, "We will continue to make efforts to protect the rights and valuable financial assets of Woori Bank customers."