Shinhan Bank Establishes Comprehensive Asset Trust and Testamentary Substitute Trust System

Expansion of Trustable Assets, Automated Contract Generation, and Stable Contract Management System
New Products Such as "Dementia Safety Trust" to Be Introduced

On May 19, Shinhan Bank announced that it has newly established a "Comprehensive Asset Trust and Testamentary Substitute Trust System" to provide flexible asset management and inheritance planning support tailored to customers' life cycles.

The newly introduced system is characterized by integrating the entire process?from the start of customer consultation to contract execution and post-management?into a single platform. Key features have been revamped, including: ▲a simplified consultation function, ▲expanded range of assets eligible for trust, ▲automated contract generation, ▲flexible inheritance planning, ▲prompt inheritance execution, and ▲stable contract management.

Shinhan Bank plans to offer an integrated solution that allows customers to manage their assets during their lifetime, utilize funds according to changes in health status, and distribute assets after death, thereby covering all aspects of their lives.

Through this system, customers can receive more sophisticated, customized contract design services, such as setting detailed inheritance ratios for each asset they own. With both lifetime and posthumous payment plans, customers can pre-design the funds they may need in the event of health deterioration.

Going forward, Shinhan Bank plans to introduce a variety of customized trust solutions, including a "Dementia Safety Trust Solution," to help customers prepare for unexpected situations such as dementia resulting from an aging population.

A Shinhan Bank representative stated, "We have introduced this new system to provide asset management tailored to each stage of life and to respond to unforeseen events based on trust products," adding, "We will continue to present financial solutions tailored to customers' life cycles and strive to provide more specialized services."

Meanwhile, in February, Shinhan Bank signed a business agreement with World Vision to cooperate on legacy donations utilizing trusts, as part of its efforts to promote an advanced culture of giving. By utilizing testamentary substitute trusts, customers can stably use trust assets such as real estate and funds as living expenses during their lifetime, and donate the remaining assets after death, thereby achieving both asset management and charitable objectives.