Hana Bank has taken a groundbreaking step in the Korean financial sector by introducing the nation's first physical gold trust service. On June 17, the bank signed a Memorandum of Understanding with Korea Gold Exchange Digital Asset at its Euljiro headquarters to promote the activation of physical gold transactions. The following day, Hana Bank announced the launch of its pioneering service.

The newly introduced "Hana The Next My Gold Trust" allows customers to safely and quickly liquidate physical gold assets. Through this product, customers can enter into a trust agreement with Hana Bank and deposit their physical gold. The gold is then appraised fairly via the Korea Gold Exchange Digital Asset, ensuring reasonable pricing and a transparent process for disposal.

Looking ahead, Hana Bank revealed plans to launch the "Hana The Next My Gold Management Trust" in the second half of this year. Under this forthcoming product, customers will be able to entrust their physical gold to the bank, which will manage the assets for a set period. Upon maturity, both the physical gold and returns from its management will be paid out.

Lee Ho-sung, CEO of Hana Bank, commented, "We anticipate this new service will dramatically improve the distribution structure for physical gold, which has long been regarded merely as a stored asset, opening a new paradigm in Korea's gold trading market. Moving forward, we will continue to connect various real assets with financial services to provide innovative and fresh offerings."

Note “This article was translated from the original Korean version using AI assistance, and subsequently edited by a native-speaking journalist.”

Photo = Hana Bank