Woori Bank said on Thursday it opened the Jeju Global PB branch, a dedicated wealth management channel for foreign customers.

The Jeju Global PB branch is a foreigner-focused outlet newly established to reflect a business environment in which demand is expanding for financial consultations among foreign customers living in the Jeju area. It provides comprehensive financial services including asset management, foreign exchange, overseas remittances and tax consultations.

Woori Bank set up dedicated consultation spaces with greater independence and privacy than existing branches to provide tailored financial services for each customer.

For wealthy foreign customers staying in Jeju after obtaining permanent residency through the Real Estate Investment Immigration System, the bank assigned foreign-national staff with extensive customer consultation experience. It plans to provide tailored financial consultations that consider cultural characteristics as well as language.

An official at Woori Bank's Channel Strategy Department said the Jeju Global PB branch is a dedicated outlet that consolidates language support and consultation functions related to asset management, foreign exchange and investment in one place to respond reliably to the diverse financial consultation needs of foreign customers in the Jeju area. The official said the bank would continue to grow together with the Jeju area through financial services that align with the local environment and customer needs.