Korea Investment & Securities, a subsidiary of Korea Financial Group, announced on the 31st that it signed a business agreement with Korea Mine Reclamation Corporation on the 30th to establish collateral for retirement pensions. The retirement pension collateral service is a corporate-targeted service that allows employees to set a pledge on their own retirement pensions as collateral and repay loans by deducting the loan amount from their retirement benefits.
Through this agreement, Korea Mine Reclamation Corporation will establish a loan system for employees linked to Korea Investment & Securities' retirement pension collateral service. This enables the provision of welfare benefits to employees without requiring a budget and allows stable management of loan repayments. It is also expected to have the effect of exempting or reducing employees' guarantee insurance premiums.
Kim Seong-hwan, Head of the Personal Customer Group at Korea Investment & Securities, said, "Starting with this agreement, we plan to actively support various companies considering the operation of in-house loan systems," and added, "We will devote ourselves to not only improving the retirement pension returns of our client companies but also expanding service areas utilizing pension assets."
This year, Korea Investment & Securities was selected as one of the top 10% excellent operators in the overall comprehensive evaluation of retirement pension providers conducted by the Ministry of Employment and Labor and the Korea Workers' Compensation & Welfare Service. The company was highly evaluated for proposing customized management strategies considering the characteristics of individual companies and providing integrated solutions ranging from investment plans for reserves to risk and performance management.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
