In cooperation with mobile carrier SK Telecom, Korea Exchange Bank opened its first “smart bank” branch at Seoul Square in Namdaemun, Seoul, on Tuesday.

The paperless bank uses an electronic documentation system, multi-financial service machine and video counseling with bank clerks, SK Telecom said.

Dubbed the “Q’Plex Seoul Square Branch,” the bank’s “Smart Branch Device” is a banking machine equipped with the latest information and communication technologies, with which customers can process some 100 bank services an their own.

Customers can also browse information on financial products through the “Media Wall Service” not found in traditional branches.

While most of the new features are currently only in Korean, the bank said it plans to expand the language features to English in the future.

KEB plans to open more Q’Plex branches, with the second branch to be established near the National Assembly in Yeouido.

By Chung Joo-won (joowonc@heraldcorp.com)