Woori Bank Selected as Main Transaction Bank for Korea Power Exchange
[Asia Economy Reporter Kim Min-young] Woori Bank announced on the 27th that it has signed the main contract for the primary banking agreement with the Korea Power Exchange.
Woori Bank was selected as the primary bank for the Korea Power Exchange through a public bidding process on August 27, and the contract period is from January 1 next year to December 31, 2023.
Under this agreement, Woori Bank will be responsible for supporting the Korea Power Exchange's fund management for three years and will provide various financial services, including payroll account opening for employees and asset management consulting.
The Korea Power Exchange is a public institution under the Ministry of Trade, Industry and Energy, responsible for operating the domestic power supply market and ensuring stable power supply and demand.
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A Woori Bank official stated, “As the primary bank of the Korea Power Exchange, we will provide Woori Bank’s excellent fund management system and differentiated financial services,” adding, “We will faithfully fulfill our role as a financial partner for the Korea Power Exchange.”
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