(Getty Images) Hana Bank has launched South Korea’s first real gold investment trust, the lender announced Monday.
Gold, a trusted asset in Korea, also holds deep significance. It played a pivotal role during the 1997 Korean currency crisis, when the nation united through the “gold collecting campaign” to help overcome the economic downturn.
Hana Bank aims for the new product to help customers generate profit through management, while also supporting the broader economy by increasing the circulation of gold, a highly liquid asset.
The product offers 24-karat pure gold as an investment, with a minimum investment weight of 100 grams.
The entrusted gold will be appraised through the mobile web via Korea Gold Exchange Digital Asset. If the customer consents to the investment, they will receive the appraised gold along with an annual management yield of 1.5 percent of appraised value. The yield can be received either in cash or physical gold.
A trial launch will take place at the Seocho Financial Center and Sales Department 1 starting on Monday, with an expansion to 26 branches in Seoul and Busan later in the month.
“We hope this offers an opportunity to view real gold as an ‘investable asset,'” a company official said. “We will continue to introduce innovative products that have the potential to shift the paradigm in asset management.”
jwc@heraldcorp.com