Hundreds of retirees listen to a lecture on asset management hosted by Samsung Securities at COEX in southern Seoul in February. The leading brokerage house provides differentiated solutions for retirees.
/ Courtesy of Samsung
By Kim Jae-won
Samsung Securities said Wednesday that it offers unique solutions for managing assets after retirement.
The brokerage house said that it will focus on Korean baby boomers, set to retire soon. According to data from Statistics Korea, the nation’s baby boomers, referring to people born between 1955 and 1963 following the Korean War (1950-53), are estimated to number around 7.1 million.
To offer quality financial management services for retirees, Samsung enforced its in-house think tank earlier this year. About 10 experts are developing retirement asset management solutions for baby boomers and those aged 40 or above. They also educate private bankers specialized in designing retirement asset management.
The firm wants the institute to find ways to innovate the market, which has relied on stereotypical products. It vows to introduce new solutions by rebalancing whole assets including real estate. It is different from market trends that focus on selling one product such as insurance, pensions and accumulative funds.
Samsung Securities has over 10 years experience in asset management. It boasts of about 1,100 private bankers and 120 retirement design experts.
The company plans to increase the number of retirement design specialists to 300 by the end of the year. In addition, it has an electronic system specializing in retirement design for the first time in the industry and provides related services at all of its branches.
Samsung has seen more than 2 trillion won flow into its new product for retirees called “Golden Egg.” Its individual retiree account also keeps leading the pace in the market.