Shinhan Bank is joining hands with the Chinese Korean Residents Federation to improve financial access for ethnic Koreans from China living in South Korea and expand tailored financial services.

Shinhan Bank said on Sept. 15 it signed a business agreement on Sept. 14 at its headquarters in Jung-gu, Seoul, with the federation to expand financial services for ethnic Koreans from China in South Korea.

The two organisations agreed to link Shinhan SOL Global with web-based financial services, conduct joint marketing for in-person and non-face-to-face events targeting ethnic Koreans from China in South Korea, and 추진 cooperation projects to improve convenience in using financial services.

The federation is a nationwide umbrella group that works to promote the rights of ethnic Koreans from China in South Korea and foster harmony in local communities. Since 2014, it has also continued private cultural exchanges between South Korea and China, including hosting the 'Chinese Korean Folk Culture Grand Festival.'

Shinhan Bank plans to raise convenience for foreign customers by linking not only account openings but also financial services closely tied to daily life such as payroll transfers and overseas remittances.

A Shinhan Bank official said, "We 추진 this agreement so that ethnic Koreans from China living in South Korea can use financial services more easily and conveniently." The official added, "We will continue to expand 생활밀착형 financial services such as payroll transfers and overseas remittances."