Shinhan Bank is expanding its services for foreigners, as they make up a steadily growing pool of potential clients in Korea that remain largely untapped.
The nation’s leading bank rolled out the “K-onepass” debit card for foreigners in May, which doubles as a deferred-payment transportation card. The card also offers an array of benefits including discounts on dining and shopping.
A Shinhan International Finance Center employee consults a foreign customer. (Shinhan Bank)
At Shinhan International Finance Center, which opened in January in Seoul’s Gwanghwamun, the lender provides expats with wealth management services, offering assistance in investments in local financial markets.
Branches in areas with a large multinational population, such as Ansan, Gyeonggi Province, and Seoul’s Daelim district, have staff that work until late and on weekends to help foreigners with banking services.
Services are provided in 10 different languages on the bank’s smartphone-based banking application and call centers.
For international students, the bank is organizing information sessions called “Banking on Campus” at university campuses.
The bank will “constantly design foreigner-customized products and services to meet the financial needs of gradually increasing foreigners,” the bank said in a press statement.
By Song Ji-won (firstname.lastname@example.org