Finance

Woori Bank reselected as NPS foreign currency treasury bank for three years

Woori Bank was reselected as the National Pension Service’s foreign currency treasury bank and will handle foreign-currency cash disbursement and foreign-currency account management for the National Pension Fund for the next three years. The bank said it signed a contract and a service level agreement with the NPS on July 14. The deal followed a tender held in March, with Woori chosen as the final operator.

Fintech

Cuconn to support National Pension Service public trust project, build funds management system

Cuconn will supply financial infrastructure such as virtual accounts and deposit transfers for the National Pension Service’s pilot “Dementia-Safe Asset Management Service.” Cuconn said on July 14 it provided payment services to support building a trust-asset management system. Under the project, the NPS manages and executes users’ funds as trustee and checks spending records. Cuconn provides services including transaction notices and account-holder checks.