KakaoBank has introduced a “gold saving” service that automatically buys physical gold in portions each week for 26 weeks.

KakaoBank said on Thursday it launched the service in partnership with physical gold trading platform Geumbang.

The service lets customers set a target weight and buy gold in portions over 26 weeks through automatic transfers. The target weight can be set at 1 don, 2 don, 3 don, 5 don or 10 don.

After signing up, the service buys gold automatically each week based on the selected target weight, applying the market price at each purchase. It splits purchases over 26 weeks instead of buying at once.

The purchased gold is secured as physical gold and stored at a professional vault run by a partner, in cooperation with Korea Securities Depository.

After reaching the target weight, customers can continue to store the gold for free or sell it at a desired time and receive cash. They can also receive physical gold products such as gold bars or accessories.

The service is available in the “saving” section under the “investment” tab of the KakaoBank app.

A KakaoBank official said, “We prepared the service so customers who are interested in physical gold but found it difficult or burdensome can save gold more easily.”