Korea Post’s Postal Service is holding a prize event for customers who pay insurance premiums by automatic transfer from a post office account.

The Postal Service, under the Ministry of Science and ICT, said on Tuesday it will run the "Premiums DOWN with Post Office Auto-Debit, Benefits UP" event through the end of next month.

Eligible customers are those who, during the event period, newly register a post office insurance premium auto-debit account as a post office account or switch their existing payment method to auto-debit from a post office account, and then pay premiums at least once. Customers who apply for auto-debit from a post office account are automatically entered. Each insurance policy certificate provides an entry opportunity.

The Postal Service will select 428 winners by lottery and provide prizes worth about 11 million won in total. Prizes include a 3.75-gram gold bar, a Dyson styler, an air fryer, Shinsegae gift certificates and post office shopping vouchers. Winners will be announced on Dec. 11 on the post office savings website and through Itda Banking.

It will also provide premium discounts on an ongoing basis to customers who sign up for insurance products that qualify for auto-debit discounts. The "(Non-dividend) Post Office Hanaro OK Insurance" and the "(Non-dividend) Post Office New Reliable Child Protector Insurance," launched on Tuesday, offer a 0.3 percent premium discount for auto-debit from a post office account.

Korea Post chief Park In-hwan (박인환) said, "I hope this event will serve as an opportunity for customers to use post office auto-debit more conveniently along with premium discount benefits." He added, "We will continue to prepare various benefits that customers can feel."