Hana Financial launches senior brand amid aging society

Hana Bank CEO Lee Seung-lyul and broadcaster Kang Ho-dong participate in the ribbon-cutting ceremony for the first ‘Hana the Next’ lounge. (Hana Financial Group)

South Korea’s Hana Financial Group launched a brand dedicated to senior financial consumers, becoming the industry’s first to introduce a brand tailored for the elderly.

The brand, Hana The Next, offers a wide range of services, both financial and non-financial, including retirement planning and inheritance, as well as healthcare solutions.

The services will be provided through partnerships with the group‘s affiliates, such as Hana Bank, Hana Securities Co, and Hana Insurance Co.

The financial group opened the first branch of Hana The Next in Seoul. The branch will provide an investment trust that leverages Hana Bank’s target date funds (TDF), an investment option that mixes different types of stocks, bonds, and other investments in a single solution to help customers prepare for retirement.

Hana Asset Management Co. is preparing to launch a monthly exchange-traded fund (ETF), and Hana Insurance is gearing up for a nursing care policy that covers the cost of long-term dementia services for people who need assistance.

Aging population has emerged as a task of eminent economic importance for Hana Financial Group and other Korean financial firms.

Korea‘s five major banks—KB Kookmin Bank, Shinhan Bank, Hana, Woori Bank, and NH Nonghyup Bank—now have senior-specific branches.

KB Financial Group and Shinhan Financial Group have also launched subsidiaries focused on nursing care for the elderly.