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AI & Enterprise

Shinhan Bank expands tailored financial services for ethnic Koreans from China

Shinhan Bank is partnering with the Chinese Korean Residents Federation to improve financial access for ethnic Koreans from China living in South Korea and expand tailored services. The bank said it signed a business agreement on Sept. 14 at its Seoul headquarters. The two sides will link Shinhan SOL Global with web-based financial services, run joint marketing for in-person and non-face-to-face events, and pursue cooperation projects to improve convenience.

Finance

Cross ENF launches remittance and payment service for foreigners

Fintech startup Cross ENF has launched a daily finance service for foreigners living in South Korea, supporting remittances, payments and public transport use. The company introduced the foreigners-only simple payment service CROSSPAY and the prepaid CROSSCARD. CROSSPAY allows users to top up in won and use it for overseas remittances and online and offline payments, with support in 12 languages including Korean. Two prepaid card types are offered, with no annual fee and up to 1 percent cashback.

Industry

Overseas Koreans in South Korea to get up to 13 percent off EMS postage

Overseas Koreans living in South Korea and their family members will be eligible from next month for discounts of up to 13 percent on international express mail (EMS) and EMS Premium services. Korea Post will also provide preferential interest rates of up to 0.15 percent on postal deposits and a 30 percent preferential exchange rate for overseas remittances. The measures follow an agreement with the Justice Ministry to support stable settlement. Benefits start on Sept. 1.