IBK Industrial Bank Signs Agreement with Seoul National University Development Foundation to Promote Donation Culture

Supporting the Promotion of Donations
Through the "IBK Naeddeutdaero Testamentary Substitute Trust"

IBK Industrial Bank announced that on April 23, it signed a business agreement with the Seoul National University Development Foundation at the Hoam Faculty House of Seoul National University to promote the establishment and development of a donation culture utilizing testamentary substitute trusts.

Through this agreement, the two organizations plan to cooperate to promote donations using testamentary substitute trusts in the following areas: ▲design of legacy donations, ▲proposal and consultation of trust products, and ▲promotion and execution of public interest projects.

As a result, donors wishing to make legacy donations to the Seoul National University Development Foundation will be able to realize their philanthropic intentions as planned during their lifetime through the bank's "IBK Naeddeutdaero Testamentary Substitute Trust."

An official from IBK Industrial Bank stated, "We expect that donations through trusts will allow our clients' philanthropic intentions to be respected and systematically realized even after their passing," adding, "We will continue to strive to provide financial services that realize social value, including the spread of a donation culture."

An official from the Seoul National University Development Foundation also said, "This agreement will serve as an important institutional foundation for those who wish to leave the value of their lives to society through legacy donations," and added, "We will continue to cooperate so that donors can help create a better future through trustworthy procedures and systems."