Woori Bank Launches Testamentary Trust Product Available from 10 Million Won

Minimum Subscription Amount Significantly Lowered from 50 Million Won

Woori Bank announced on September 8 that it has launched the "Woori Naeri Sarang Safe Trust," a new product designed to make asset management more stable and inheritance processes faster and easier for senior customers.

The newly released "Woori Naeri Sarang Safe Trust" has significantly lowered the minimum subscription amount, allowing anyone to join with just 10 million won or more. While the types of assets entrusted are limited to cash, the scope of management has been expanded to include a variety of investment and financial products. The bank has simplified the previously complicated contract procedures and improved the system so that customers can receive necessary funds, such as living expenses, on a regular basis.

A testamentary trust is a financial product in which a financial institution enters into a trust contract with a customer, providing asset management services based on various financial assets during the customer’s lifetime and distributing assets quickly according to the contract after the customer’s death. As the population ages rapidly, demand is increasing for planning retirement asset management and inheritance.

A Woori Bank official stated, "The Woori Naeri Sarang Safe Trust is a renewed product that makes the existing testamentary trust service even easier and more convenient. Consultations and subscriptions are available at branches nationwide," adding, "As we enter a super-aged society, we plan to continue introducing a variety of trust products for customized asset management and inheritance planning."