Korea Post has begun a pilot bank agency service to improve access to financial services in underserved areas. Korea Post chief Park In-hwan (박인환) visited the Cheongyang Post Office in South Chungcheong Province to inspect operations. The service allows residents in county-level areas without commercial bank branches to consult on and apply for bank loan products at head post offices. The pilot covers 20 post offices nationwide and offers consultations for eight products from four major banks.

Residents in rural and fishing communities without commercial bank branches will be able to compare and apply for credit loans from four major banks at post offices. The Ministry of Science and ICT\'s Korea Post signed agreements with KB Kookmin, Shinhan, Woori and Hana Bank to promote agency banking services. Korea Post, the banks and the Korea Financial Telecommunications and Clearings Institute will run a pilot from July 20 at 20 head post offices in county-level areas.