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Hana Financial teams up with Korea Senior Citizens Association to lead financial services for seniors
Hana Financial Group, led by Chairman Ham Young-joo, left, and Korea Senior Citizens Association Chairman Lee Joong-keun pose at the association's headquarters in Seoul, Wednesday. Courtesy of Hana Financial Group
By Lee Kyung-min
Hana Financial Group has partnered with the Korea Senior Citizens Association to strengthen financial security, convenience and long-term asset management for the country’s growing senior population, the group said Thursday.
The move comes as Korea becomes a super-aged society and financial services are expanding beyond traditional banking to enhance seniors’ quality of life.
The group signed a memorandum of understanding (MOU) with the association to better respond to demographic changes and provide comprehensive financial support tailored to seniors.
The signing ceremony was held at the association headquarters in central Seoul, attended by association chairman Lee Joong-keun and Hana Financial Group Chairman Ham Young-joo.
The two agreed to identify joint initiatives, including the launch of products for association members such as pensions, senior-focused financial counseling and education, as part of a broader financial cooperation to improve their welfare.
A key benefit of the partnership is tied to cards issued by Hana Card, the group’s subsidiary. Association members who sign up for the card will receive discounts of up to 15,000 won ($10) per month, or 180,000 won annually. Debit card users will be eligible for discounts of up to 5,000 won per month, or 60,000 won a year.
Hana Bank, the group’s banking subsidiary, will also enhance pension-linked financial services.
Beyond products, Hana also plans to operate on-site financial briefings and consultation programs at senior centers and major events hosted by the association.
“These initiatives are expected to improve financial literacy among older adults and support safer, more informed asset management amid increasing financial fraud risks," Ham said.
“Through this partnership, Hana will go beyond providing financial products and grow into a lifelong partner that supports seniors throughout their entire life journey.”
Founded in 1969, the association is the country’s largest senior organization, operating about 68,000 senior centers nationwide.