Regional Korean banks to utilize post office networks for nationwide services

BNK Busan Bank and Kwangju Bank have signed an agreement with the Korea Post, the Korea Financial Telecommunications & Clearings Institute, and the Ministry of Science and ICT to utilize the national post office network for banking services.

Starting in October, customers of these regional banks will be able to use approximately 2,380 post office branches and ATMs nationwide to perform essential financial tasks, such as deposits, withdrawals, transfers, and balance inquiries, without incurring additional fees.

The partnership aims to improve financial accessibility, particularly for elderly populations and residents in rural areas who may struggle with digital banking or lack proximity to physical bank branches. For Kwangju Bank, the move is also seen as a strategic effort to expand its service network and compete more effectively in regional markets.