One-stop service covers asset management through intergenerational wealth transfer
Legal firm partnerships support inheritance planning, drafting and post-death execution
Yuanta Securities Korea said Wednesday it is launching Gaon, a wealth succession trust service that provides one-stop support from asset management during a customer's lifetime to customized inheritance after death.
The wealth succession trust manages assets entrusted by customers according to their wishes through a trust agreement while they are alive, then safely transfers those assets to family members at a time and in a manner the customer has designated in advance. It is a specialized service covering both inheritance and gift transfers.
The service is growing rapidly as South Korea enters a super-aged society, offering key advantages: preventing disputes among heirs, enabling tailored asset distribution to descendants, and helping customers build a family safety net against their own death or dementia.
Gaon, which Yuanta Securities Korea is rolling out starting Wednesday, takes its name from the idea that asset management for family ("ga," written 가) continues across generations ("On"). The name also carries the meaning of conveying warmth ("on," written 온) toward one's family, and the service is positioned around the concept of "customized asset management planning for the family you love."
The service comprises four products — a will-substitute trust, a gift security trust, a trust for supporting people with disabilities, and an insurance claim trust — allowing customers to choose the option that fits their circumstances. Multiple asset types, including cash, securities and real estate, can be held under a single trust agreement for integrated management.
During the customer's lifetime, the customer serves as the beneficiary and manages the assets. After death, the service will help the remaining family carry out the customer's wishes without complicated procedures or burdens — transferring assets in a pre-agreed manner to support a spouse's retirement, or to fund children's and grandchildren's independence and future plans.
To ensure service quality, Yuanta Securities Korea has established a dedicated wealth succession trust team within its headquarters trust solutions division. Working with outside legal firms, the company will provide systematic support covering inheritance and gift planning, contract drafting, legal and tax review, and post-death execution. Branch private bankers will handle consultations, while headquarters staff will provide ongoing case management tailored to each customer's situation.
"With the launch of Gaon, Yuanta Securities Korea has built a comprehensive wealth management framework that accompanies customers through their entire lives — from asset accumulation and management to transfer to the next generation," said Hong Dong-hun, head of the product strategy division. "We will become a reliable intergenerational asset management partner by providing careful, personalized planning and service so that the assets customers have built over a lifetime, and the love they hold for their families, are safely passed on to the next generation."
Customers can inquire about Yuanta Securities Korea's Gaon wealth succession trust service and its key offerings at any of the company's branches nationwide starting Wednesday.
Yuanta Securities Korea also actively engages in social contribution activities alongside its customers. On Oct. 26, the company held a charity pro-am golf tournament at Nam Seoul Country Club in Seongnam, Gyeonggi Province, with about 100 top customers and 35 players from the Korea Ladies Professional Golf Association. Yuanta Securities Korea donated 30 million won ($22,100) — raised from corporate contributions and customer donations — to the Beautiful Foundation. The funds will go toward programs aimed at easing the caregiving burden on families with children with disabilities.
th5@heraldcorp.com
