BNP Paribas announced that it will organise its 11^th annual charity bazaar at the Beautiful Store Anguk Branch today.

This charity bazaar is jointly organised by four BNP Paribas entities in Korea – namely BNP Paribas Seoul Branch, BNP Paribas Securities Korea, BNP Paribas Cardif Life Insurance and BNP Paribas Cardif General Insurance – as part of the BNP Paribas Group’s ongoing efforts since 2011 to support the neglected children together with the Beautiful Store, an NGO dedicated to promoting environmental awareness through the culture of recycling, donation, and sharing.

To promote the awareness of environmental protection, BNP Paribas employees donated second-hand goods including clothes, toys, books and shoes to be sold at the charity bazaar. The proceeds raised from the bazaar will be donated to support the children’s welfare centres and BNP Paribas employee volunteers are participating to support the bazaar.

Philippe Noirot, Territory Head of BNP Paribas South Korea, said: “We are glad to have this long-term partnership with the Beautiful Store to help the local community while contributing to environmental protection by sharing second-hand goods for reusing. As one of the largest global financial groups, we feel strongly responsible for the environmental issues and we hope that this charity bazaar will have a positive impact on reducing the environmental impact.”

Meanwhile, BNP Paribas is currently organising its annual fundraising campaign to encourage employees to make donations. The raised funds from the campaign will also be donated to support the underprivileged children at the children’s welfare centres.

BNP Paribas Cardif Life Insurance announced the launch of ‘Good Rich ETF Variable Annuity Insurance (Non-dividend type)’, a long-term investment solution with ETF funds. The product is now available on Rich & Co., one of independent insurance agency, partnered with BNP Paribas Cardif Life Insurance.

BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas.

‘Good Rich ETF Variable Annuity Insurance’ which consists of funds investing on ETFs, suggests the efficient long-term investment in diverse sectors with the enhancement from the existing ETF variable annuity insurance in terms of the subscription age and investment strategy.

In terms of subscription age, the new product is available for customer aged 0 to 70 that allows customers in diverse age group can choose the product according to their own purposes. For those in their 40s and 50s, the product can be a solution to raise asset for their old age or expense for children, and for those in their 60s or order, it can be used to prepare for the affluent future of their grandchildren.

Options for investment strategies have also expanded. For those who want diversified investment focused on domestic assets, <Smart Beta> strategy can be the solution. <New Global Asset Allocation> and <Global Asset Allocation II> can be the option as well for those who want to invest in foreign assets or overseas ETF, respectively. ETF funds within the selected investment strategy are automatically rebalanced on quarterly basis according to advice from Samsung Asset Management, the leading company in Korean ETF market share, enabling convenient and professional fund management.

Lim Si Hyuk, the head of GA/Business Development in BNP Paribas Cardif Life Insurance said, “We have been providing our ETF variable insurance products in GA(General Agency) channel since 2019, and it is gaining steady interest and popularity due to high interest in ETF investment that is cost-effective and convenient for diversified investment. We expect as many customers as possible to benefit from ETF investment with the new product’.”

‘Good Rich ETF Variable Annuity insurance’ can be subscribed from KRW 0.1 million to 1 million per account for regular payment type and from KRW 50 million or more for single payment type. Since it is an insurance product, customer can be covered from insurance accidents. If the insured becomes disability status of more than 80% during the insurance period before the commencement of pension payment, accident disability benefits will be offered. If the policyholders want to keep the earned income more stable while responding to market conditions more flexible, it can be managed with the public interest by switching to a ‘general account’ or ‘bond-type fund’ instead of constantly re-investing in ETFs. It is also available to utilize a certain percentage of reserve at the time of commencement of pension payment for the purpose of expense for the old life.

Meanwhile, customers of BNP Paribas Cardif Life Insurance’s variable life insurance products can be benefited from the variable insurance management program offered by the company that provides the investment outlook, fund information, profit-alarm services, long-term contract maintenance guidance, in-depth fund consultations, etc to help customers transparently and regularly monitor and manage their contracts after singing up in more convenient and professional way.

BNP Paribas China Ltd has become the first foreign bank to underwrite an onshore corporate bond issued by a Chinese domestic issuer in the China market, after being awarded the Type-A Corporate Bond Lead Underwriting Licence in September this year.

BNP Paribas China Ltd acted as a joint lead underwriter for China Universal Leasing Co. Ltd’s RMB 500 million bond, issued on December 9.  The super short-term commercial paper marks the first time a foreign financial institution has worked with a domestic player to issue in the world’s second-biggest market.

CG Lai, CEO of BNP Paribas China Ltd, said: “We are honored to become the first foreign bank to underwrite a bond issued by a Chinese domestic company, underscoring our consistent commitment to China. As a fully-licenced bank, BNP Paribas brings the strength of our comprehensive onshore expertise to continually help more foreign investors navigate China’s market and deepen our engagement in China’s domestic financial market to help our clients achieve their long-term business ambitions.”

George Sun, Head of Global Markets for Greater China, said: ”We are pleased to successfully complete this deal and we will look into more opportunities that can help both onshore and offshore clients tap into the growing potential of China’s domestic bond market. ”

BNP Paribas China Ltd was granted a Type-A licence, allowing it to lead underwrite domestic corporate debt from Chinese companies, from China’s National Association of Financial Market Institutional Investors in September. Previously, BNP Paribas China was awarded the Type B licence in December of 2018.

Press Contacts
Ayesha de Kretser +852 2108 5458  ayesha.dekretser@asia.bnpparibas.com