The financial industry said on the 26th that KB Kookmin Bank is significantly expanding senior-focused programs this year to strengthen customer engagement. The bank is moving away from a consultation-only approach, pairing cultural experiences with locally focused seminars to build a long-term customer base.
Kookmin Bank’s Golden Life Division revamped its senior lineup under this year’s theme of “transition and expansion.” It is widening Golden Class — seminars covering financial and nonfinancial topics — from a Seoul-centered operation to regional cities such as Busan and Daegu, and has newly introduced Golden Days, a culture-based invitation program. The bank aims to link senior community-building to expanded wealth management over time.
On the 25th, the bank held the first Golden Days event, inviting about 1,180 long-term preferred customers age 50 and older to watch “Life of Pi.” Kookmin Bank rented the entire GS Arts Center for the event, and demand was strong, with a reported competition rate of about 244 to 1.
Starting on the 27th, the bank will hold Golden Class senior wealth management seminars in major regions including Daejeon, Busan, Daegu and Gwangju. Topics will range from using digital financial services to inheritance and gifting, managing retirement assets, nursing and caregiving, and health management. The bank plans to broaden invitations beyond bank customers to include clients of its nonlife insurance and life affiliates, operating the effort as a groupwide integrated customer-management model. Lectures will also be open to local residents to attract potential customers.
Banks’ focus on the senior market reflects the rapid growth in older adults’ assets. Those assets are estimated to have nearly quadrupled from about 1,172 trillion won in 2011, when related statistics began to be compiled. Kookmin Bank said customers age 50 and older account for nearly 48.4% of its total customer base, and demand for retirement-asset management is rising. The bank also cited the potential to expand wealth management fees and other noninterest income through long-term management of senior customers’ assets.
Kookmin Bank operates 18 Golden Life Centers and is expanding related products, including testamentary substitute trusts. As demand grows for comprehensive advice spanning pension tax strategies, inheritance and gifting, housing, nursing and caregiving, and cash-flow management, the bank’s senior-focused services are widening.
The financial industry expects competition for senior customers to intensify further. With slower growth and older adults emerging as a core customer group with relatively stable assets, financial services are expected to keep expanding beyond investment into daily living, caregiving and cultural offerings.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.