Hana Bank Participates in Korea's First Wellness Residence Project

[Financial News] Hana Bank announced on the 23rd that it has signed a business agreement (MOU) with HDC Hyundai Development Company to promote the wellness residence business and provide customized comprehensive asset management services for residents.
This agreement was prepared to provide optimized solutions throughout the entire lifecycle of the senior generation based on the know-how Hana Bank has accumulated across finance, including banking, securities, and insurance.
The two companies agreed to cooperate in various fields, including △providing customized financial services such as asset management, taxation, and inheritance △providing financial and non-financial programs within senior-specialized spaces △developing financial products linked to residential products such as deposit management trusts for residents △supporting benefits from Hana Bank and affiliated companies.
This agreement is the first case in Korea where a bank participates as a strategic financial partner in a wellness residence business in the form of private rental housing operated by a comprehensive financial real estate company. Hana Bank expects it to become a representative private cooperation model responding to a super-aged society by going beyond simple service partnerships to strengthen financial stability through resident deposit trusts and retirement asset management, establish a joint lifecycle management system between financial companies and construction companies, and support real residence-based financial services.
The first business model, 'Seoulwon Wellness Residence,' is an urban wellness residence created by HDC Hyundai Development Company in the station area of Gwangwoon University in Nowon-gu, Seoul. It is evaluated as an optimal location for the senior housing trend of aging in place (AIP) in the community. Hana Bank explained that the strengths of the location, where transportation, medical, cultural, and commercial infrastructure are concentrated, combined with the capabilities of 'Asset Management Master' Hana Bank, will establish it as a new type of urban senior housing facility.
Lee Hosung, president of Hana Bank, said, "Hana Bank and HDC Hyundai Development Company have joined forces to provide not only future planning with finance for the precious second act of senior customers' lives but also new experiences across life care," adding, "We will cooperate closely to create various synergies."
mj@fnnews.com Park Munsu Reporter