Woori Bank announced that its defined contribution (DC) retirement pension products achieved an 18.4% return in the third quarter of this year, ranking first among the top 10 providers in terms of accumulated funds as of October 16.
According to the Financial Supervisory Service, Woori Bank's third-quarter returns were 18.4% for DC and 18.3% for individual retirement pensions (IRP), marking an improvement of one position for both categories compared to the previous quarter. Among the four major commercial banks, Woori Bank ranked first in DC and second in IRP.
The bank attributed its improved returns to a focus on customer-centered asset management and enhanced product competitiveness. Both headquarters and branches have been actively managing customer returns and providing tailored portfolios that utilize domestic and international assets based on individual investment preferences and retirement readiness.
Woori Bank is also working to improve returns on guaranteed principal products. In August, it received approval from the Ministry of Employment and Labor to include guaranteed interest contracts (GIC) in its stable default option portfolio, becoming the first in the banking and securities sectors to do so.
This revision will apply to a stable default option portfolio valued at approximately 4 trillion won. The plan is to shift the existing product structure, which was primarily based on time deposits, to GICs, thereby increasing interest income for customers who prioritize stability.
Jeong Cheong-rak, head of Woori Bank's pension business division, stated, "Our efforts to provide products that meet diverse operational needs and a balanced portfolio of domestic and international assets have yielded results. We will continue to manage investment product returns and enhance the competitiveness of guaranteed principal products."
* This article has been translated by AI.
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