NH Nonghyup Bank has introduced a new trust product that allows customers to deposit gold bars and gold rings for management and investment.
On October 1, NH Nonghyup Bank announced the launch of the 'NH Gold Trust (Physical Type).' When customers entrust physical gold to the bank, the gold will be managed through partner institutions during the trust period, and at maturity, customers will receive both the gold bars and the investment returns. This product is designed to provide a financial management option rather than simply holding physical gold.
In May, NH Nonghyup Bank signed a memorandum of understanding with Samsung Gold Exchange to promote the physical gold trust business, and has since been preparing for the launch by establishing the product structure, operational processes, and IT systems.
The product will initially be piloted at two branches: the main office and the central headquarters branch, with plans to gradually expand to additional locations.
Kang Tae-young, CEO of NH Nonghyup Bank, personally subscribed as the first customer to commemorate the product launch. He stated, 'We have created this product to add new value to the physical gold that our customers cherish. We will continue to expand differentiated trust products and financial services to meet the diverse asset management needs of our customers.'
* This article has been translated by AI.
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