Jeju Bank customers will be able to use banking services at post office counters without paying additional fees. Korea’s Postal Service said it signed an agreement with Jeju Bank and the Korea Financial Telecommunications and Clearings Institute on the joint use of the post office counter network. Services will start at post offices in Jeju from May and expand to post offices nationwide from September.

Financial market jitters in South Korea are growing as the Middle East war drags on, pushing oil prices higher and strengthening the dollar. The won has risen above 1,500 per dollar, near the highest level in about 17 years, while foreign outflows add to volatility in the KOSPI. Separately, banks, internet-only lenders and fintech platforms are intensifying competition for sole proprietor refinancing loans as infrastructure opens up.