Woori Bank has signed a memorandum of understanding (MOU) with the Trade and Development Bank of Mongolia and KT to provide specialized financial and telecommunications services for foreigners, the bank said.
Through the agreement, the three companies will offer integrated financial and telecommunications services to Mongolian nationals working or studying in Korea, covering everything from before their arrival to settling into life in the country.
Specifically, when customers use the Trade and Development Bank in Mongolia, they will receive preferential benefits on loans and deposits if they commit to subscribing to Woori Bank's overseas remittance service and KT's telecommunications network.
After arriving in Korea, Woori Bank will help them open remittance accounts through its specialized branches for foreigners and Sunday-operating branches, and provide preferential benefits on exchange rates and overseas remittance fees.
KT will apply its lowest-priced mobile telecommunications plan and link the telecommunications bill payment account to Woori Bank.
