South Korean financial conglomerate Shinhan Financial Group is preparing to launch a senior-focused brand as competition intensifies in the country’s fast-growing wealth management market for the elderly, industry sources said on Sunday.

Tentatively called Platinum 100, the initiative comes as Korean financial groups race to tap the so-called “silver economy” as demographic shifts lead to lower birth rates and a rapidly aging population. Shinhan is the second financial holding company in the country to create a senior brand following Hana Financial Group. With the duo’s entries into the market, competition for the senior asset management segment, estimated to be worth over 400 trillion won ($293 billion), is expected to intensify.

Sources said that Shinhan’s new brand will be led by an asset management unit under Shinhan Bank Co.‘s Asset Management Solutions Group, which specializes in services such as will-in-lieu trusts. It will operate in collaboration with the group’s securities and wealth management arms, and other subsidiaries, including Shinhan Life Insurance, are also likely to participate. Shinhan is evaluating several brand names, including Platinum 100.

The brand’s first offering will be a life-stage tailored asset trust tailored for various life stages and designed to support clients aged 60 and over through various stages of aging from healthy retirement to potential illness, dementia, and posthumous asset transfer.

Platinum 100 will include a large proportion of non-financial services alongside the financial ones as it aims to provide services along various life cycle stages, and Shinhan is thus actively pursuing partnerships with external companies. A Shinhan Financial Group official said, “While the senior finance market has focused on asset management and will-in-lieu trusts in preparation for death until now, our senior brand focuses on ‘while we are still healthy’ as we live longer, providing non-financial services on top of financial ones.” The strategy is to distinguish itself from competitors by employing the ‘Shinhan Premier Pathfinder’ for financial aspects such as asset management, while substantially enhancing non-financial services.

A key differentiator will be a focus on non-financial services, such as health care, alongside financial planning. Shinhan Financial Group is working with partners, including Green Cross Corp. unit GC Carea, to provide comprehensive medical check-ups after retirement, and with an artificial intelligence (AI) humanoid company to link up with the rental and purchase of ‘housekeeping robots.’ It is also collaborating with construction companies that supply senior-specialized residences to provide financial care for residents, and conversely, to attract customers in other fields to Shinhan Financial Group.

Korean financial holding companies are actively entering the market due to its huge potential in the current era of low birth rates and aging population.

Hana Financial Group has taken the lead in this sector by targeting the will-in-lieu trust market, launching a brand specialized for seniors called ‘Hana Next’ in 2024. It has been launching related products and services ever since then, including private housing pensions that the Financial Services Commission designated as innovative financial services by in May 2025, and recently entered the nursing care business via its ‘Hana Next Life Care’ product.

For its part, KB Financial Group is creating its own senior business centered around KB Kookmin Bank and KB Life. It is expanding products exclusively for senior customers and is currently reorganizing retirement pensions, will-in-lieu trusts, and products related to inheritance and gifts. Woori Financial Group is still in the initial stages but is preparing to analyze financial transactions targeting senior customers. It will form an integrated service foundation for Dongyang Life Insurance and ABL Life Insurance, which Woori confirms it will acquire, and be a key addition to Woori Bank’s product line.

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