Woori Bank will provide professional consultation services on individual retirement pension plans (IRPs) for Naver Pay users. The service allows users to consult remotely with Woori Bank advisers on pension management and then proceed to sign up for a personal IRP.

Woori Bank said on July 23 it started the personal IRP consultation service from July 22 in partnership with Naver Pay. According to Woori Bank, it is the only commercial bank that has worked with Naver Pay in the personal IRP consultation field.

The service is available through the newly created Pension Home on Naver Pay. If a user selects Woori Bank pension consultations in Pension Home, the user can receive remote advice from Woori Bank pension specialists on managing personal IRP products.

Woori Bank plans to revamp the process so that consultation customers can sign up for a personal IRP on Woori Bank’s mobile website without separately accessing the Woori WON Banking app.

To coincide with the service launch, Woori Bank will also run an Npay points promotion for subscribers to defined contribution (DC) retirement pensions and personal IRPs through Oct. 30.

Park Ui-jeong (박의정), head of Woori Bank’s Pension Marketing Support Team, said the bank linked processes so that financial consumers can start retirement pension consultations and sign-ups on lifestyle platforms that many use. He said the bank will expand cooperation with platform companies to broaden touchpoints with pension subscribers.