Woori Bank, Woori Card Co., Ltd., and National Pension Service (NPS) Establish 'Asset Safety Net' for Financially Vulnerable Groups

[Financial News] Woori Bank partners with Woori Card Co., Ltd. and the National Pension Service (NPS) to safely manage the assets of elderly people with dementia and people with developmental disabilities.
On the 10th, Woori Bank announced that it had signed an 'Asset Management Support Service Business Agreement' with Woori Card Co., Ltd. and the National Pension Service (NPS) at the National Pension Service (NPS) Gangnam Building in Gangnam-gu, Seoul, to protect people who have difficulty managing their own assets, such as elderly people with dementia and people with developmental disabilities.
The Asset Management Support Service is a social service designed to protect the assets of people who have difficulty managing their own property due to developmental disabilities or dementia from various social threats and to ensure that the assets are used where necessary. Upon signing a contract with the National Pension Service (NPS), the agency manages expenditures for funds needed in daily life, such as medical and nursing care expenses.
Under this agreement, Woori Bank will manage the trust funds for the Asset Management Support Service. It plans to provide dedicated financial products and preferential benefits for users. Woori Card Co., Ltd., in connection with the public trust, will help users conveniently use funds needed in daily life, such as medical expenses and purchases of daily necessities.
Woori Financial Group plans to support the stable operation of the Asset Management Support Service by linking the financial services of Woori Bank and Woori Card Co., Ltd., and to continue expanding inclusive finance.
Se-hyung Cho, Head of Woori Bank's Institutional Banking Group, said, "We are now able to use the fund management capabilities we have accumulated as the primary bank of the National Pension Service (NPS) to protect the public's valuable assets." He added, "Going forward, we will expand support so that people who have difficulty managing their own assets can use financial services with peace of mind, and we will take the lead in practicing inclusive finance."

[email protected] Lee Hyun-jung Reporter