Hana Financial Group’s private reverse mortgage has attracted more than 330 billion won ($220 million) in subscriptions from over 260 customers since its launch a year ago, the group said Thursday. Introduced in May 2025, the product was designed to fill a gap in Korea’s reverse mortgage market, where government-backed programs dominate. A reverse mortgage allows older homeowners to convert part of the value of their home into a steady stream of income while continuing to live in the property. Because public reverse mortgages are unavailable for homes valued above 1.2 billion won, many seniors with high-value properties have had few options for unlocking housing wealth in retirement. Hana’s offering combines Hana Bank’s real estate trust service with a lifetime annuity from Hana Life. It also adopts a nonrecourse structure, ensuring customers receive pension payments for life even if the total amount ultimately exceeds the value of the property. To mark the product’s first anniversary, the group hosted an appreciation event for more than 50 customers at its Seoul headquarters o