Hana Bank is strengthening the competitiveness of its "Hana Gold Trust" product to popularize gold investment. The bank has expanded the range of eligible gold items and raised the maturity yield. Customers can now deposit unused jewelry to earn interest income and receive a new gold bar.
Hana Bank announced on the 1st that it has expanded the items eligible for Hana Gold Trust subscription from the existing 24K pure gold to 18K and 14K products. Gold accessories such as rings, necklaces and bracelets are also eligible for the trust if they weigh 30 grams or more.
The maturity yield has also been raised. The yield based on a one-year maturity has been adjusted upward to 1.7 percent per year (before tax and after fees). Previously, it stood at around 1.5 percent per year.
Hana Gold Trust is a product that generates returns by entrusting physical gold to the bank. Customers can safely store their gold while simultaneously earning interest income. At maturity, customers receive a new gold bar with 99.99 percent purity manufactured by the Korea Gold Exchange, along with the operating profits.
Hana Bank has formed a strategic partnership with Korea Gold Exchange Digital Asset to enhance the reliability and expertise of its gold management. Korea Gold Exchange Digital Asset holds the nation's largest gold distribution infrastructure. Gold deposited by customers undergoes professional appraisal to measure purity and weight, and is then managed as standardized "qualified gold bullion."
Customers wishing to subscribe can visit a participating branch with their identification and physical gold. Hana Bank plans to expand the number of participating branches from the current 166 to 180 starting in August.
Meanwhile, according to the International Standard Gold Exchange, one don (3.75 grams) of pure gold could be purchased at 961,000 won as of the 1st, up 2,000 won from the previous trading day, and could be sold at 799,000 won, unchanged from the previous trading day.
