South Korea's Banks Expand Senior Wealth Management, Hana Opens 2 Lounges as Trust Products Hit 5.5T Won

According to Yonhapinfomax, South Korea's major banks expanded senior-focused wealth management services in July, with Hana Bank opening two 'HanaTheNextLounge' branches in Daegu and Daejeon on July 12. The lounges provide retirement planning consultations, asset management, and inheritance services alongside non-financial wellness programs.

Four major banks' testate trust balances exceeded 5.5 trillion won as of early July, with over 1 trillion won added since year-start. Hana Bank's flagship 'HanaTheNextHome Retirement Pension' product reached 3.3 trillion won in subscriptions just one year after launch. Shinhan Bank, which launched its 'SOLMate' senior brand in 2025, set an annual trust fund inflow target of 2 trillion won.