IBK Industrial Bank of Korea has introduced a service that allows overseas Koreans to deliver consular-certified powers of attorney needed for domestic financial transactions as electronic documents.
The bank said on Aug. 4 that it began the “Digital Consular-Certified Financial Power of Attorney Service” on July 30.
The service supports overseas Koreans living abroad in electronically transmitting and verifying financial powers of attorney that have received consular confirmation at overseas diplomatic missions.
With the service in place, consular-certified powers of attorney are delivered to banks as electronic documents, enabling domestic financial transactions to be processed more quickly even while staying overseas.
The bank explained that transmitting and verifying powers of attorney based on electronic documents prevents document forgery and tampering and strengthens personal information protection.
A bank official said, “We expect this service will improve financial convenience for overseas Koreans living abroad.”
Ji-young Lee
ljy@d-today.co.kr