Finance

KB Kookmin Bank enables QR payments in China without local app, offers 100 percent exchange rate preference

KB Kookmin Bank has launched a service on its KB Star Banking app that lets users make QR payments at merchants in China without installing a local payment app or registering additional personal information. The bank said it introduced an overseas payment service linked to NUCC, marking the first direct connection by a South Korean financial company to China’s national payment network. It also applies a 100 percent exchange rate preference and is running a promotional event through Dec. 21.

Finance

Woori Bank launches time deposit paying up to 3.80 percent, sells up to 2 trillion won

Woori Bank introduced a short-term time deposit offering an annual interest rate of up to 3.80 percent. Customers can choose a deposit term of 3, 6 or 9 months, and the product will be sold until the end of November with a total limit of 2 trillion won. Rates as of Oct. 20 are 3.40 percent for 3 months, 3.75 percent for 6 months and 3.80 percent for 9 months.