Entrust Your Physical Gold and Receive Returns... Hoban-NH Join Forces

[Financial News] Hoban Group's Samsung Gold Exchange has launched a new wealth management product, the NH Gold Chaeum Trust, in partnership with Nonghyup Bank. According to Hoban Group on the 1st, the product allows subscribers to entrust physical gold, such as gold bars and baby rings, to Nonghyup Bank. Samsung Gold Exchange manages the gold during the trust period, then pays subscribers its pressed gold bars along with the investment returns at maturity. The product is available to customers with at least 30g of 24K pure gold.
Samsung Gold Exchange and Nonghyup Bank signed a memorandum of understanding last May to pursue a physical gold trust business. They have since prepared to launch the product by developing its structure, operating procedures and IT systems. The service will first be piloted at two branches before expanding to around 160 branches nationwide in 2027. The first subscription round will run through the 8th.
Samsung Gold Exchange directly manufactures gold bars using pure gold with a purity of at least 99.99% and guarantees their quality. It also provides a purchase-agency service for products it has sold. A Samsung Gold Exchange official said, "We will continue expanding our products and services through cooperation with various financial institutions."
[email protected] Kwon Jun-ho Reporter