Gwangju Bank is set to expand its financial services by utilizing the post office network.
On August 31, Gwangju Bank announced that it recently signed a "Joint Use Agreement for Post Office Network" with the Korea Post, the Financial Settlement Center, and Busan Bank at the Gwanghwamun Post Office.
The signing ceremony was attended by Jeong Il-seon, President of Gwangju Bank; Park In-hwan, Head of Korea Post; Chae Byeong-deuk, Head of the Financial Settlement Center; and Kim Seong-joo, President of Busan Bank.
Gwangju Bank initiated this agreement in response to the increased regional living area and financial demand following the establishment of the Gwangju Special City in July, aiming to enhance financial accessibility for local residents.
The agreement is expected to improve accessibility for residents in rural areas and the elderly, making it easier for them to use post office services.
Gwangju Bank plans to complete the integration and development of the post office network system by September and will implement the service in October after assessing transaction stability and user convenience.
Once the service is launched, Gwangju Bank customers will be able to perform basic financial transactions such as deposits, withdrawals, transfers, and inquiries at post office counters and automated machines nationwide without incurring additional fees.
There are over 2,380 post office counters available across the country, with more than 320 located in the Jeonnam and Gwangju regions.
Gwangju Bank aims to establish a comprehensive financial service system that encompasses urban and rural areas by integrating the post office network with its existing branches and digital channels.
The bank plans to ensure that customers in areas without branches can access face-to-face financial services nearby.
Jeong Il-seon, President of Gwangju Bank, stated, "This agreement is significant in broadening financial access for customers to utilize basic financial services closer to home. We will actively respond to the expanded living area and financial demand following the establishment of Gwangju Special City and strengthen our role as a regional representative bank, including customers who face challenges in using digital finance."
* This article has been translated by AI.
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