Hana Bank partners with Lotte to manage assets of elderly clients

Hana Bank CEO Park Sung-ho, right, poses with Lotte Engineering & Construction CEO Ha Suk-joo at the builder's headquarters in Seoul, Oct. 28, after signing a partnership on the launch of an asset management service for elderly customers. Courtesy of Hana Bank

By Lee Min-hyung

Hana Bank has teamed up with Lotte Engineering & Construction to launch a customized asset management service for senior customers, whose numbers are growing due to the nation's aging population, the lender said Sunday.

The two companies will provide a comprehensive asset management service for elderly people who will live in the premium senior residential facility, VL Le West, built by the construction firm in the Magok Industrial Complex in Seoul.

Hana Bank will offer special asset management programs for each resident. The service includes private asset management and consulting on the inheritance of their assets by their children.

Experts and skilled financial consultants working for the lender's Living Trust Center will provide one-on-one consulting services for the residents, encompassing a broad range of areas, such as tax, law, real estate and financial products.

The consultants will also focus on meeting the needs of customers when designing the customized programs for the Le West residents, the bank said.

“Hana Bank and Lotte Construction & Engineering will generate synergies as a partner for the launch of the differentiated service amid an aging society,” Hana Bank CEO Park Sung-ho said. “We will continue making more efforts to diversify our service lineup for senior citizens and provide optimized financial solutions for them.”

Hana Bank has expertise in its financial business targeting the elderly. In April 2010, the lender launched the Hana Living Trust asset management service for the first time among local financial firms here. It has since released a diverse set of financial trust products for senior citizens.