KB Kookmin Bank Launches 'Simple Testamentary Trust'

Legal Effect Equivalent to a Will Without Drafting One
Lower Subscription Amount and Streamlined Procedures

KB Kookmin Bank announced on July 7 that it has launched a 'Simple Testamentary Trust', which lowers the minimum subscription amount and streamlines the process.

This product is designed to provide the same legal effect as a will without the need for separate legal procedures or the drafting of a will. In the event of the customer's death, assets can be inherited by pre-designated beneficiaries without complicated procedures.

The product is available to individuals aged 40 or older, with a minimum subscription amount of 10 million won.

A KB Kookmin Bank official said, "While traditional testamentary trusts have mainly targeted high-net-worth individuals, this product was launched to help more customers prepare asset planning for their families in advance." The official added, "We plan to continue expanding a variety of services for senior customers in line with the era of population aging."