NH NongHyup Bank said on Tuesday it signed an outsourcing agreement with the Armed Forces Financial Management Agency for overseas remittance services for military pensions at its headquarters in Jung-gu, Seoul.
Under the agreement, NH NongHyup Bank will provide overseas remittance services to ensure stable pension payments to military pension recipients living abroad.
NH NongHyup Bank plans to further strengthen military-related financial services following its selection as the dedicated bank for overseas remittances of military pensions.
Eom Eul-yong (엄을용), executive vice president and head of NH NongHyup Bank's corporate finance division, said, "I am glad to be able to provide stable pension services to military pension recipients living overseas who have devoted themselves to the country." He said the bank would strengthen its role as a financial partner for soldiers throughout their lives.