Shinhan Bank Signs MOU with Korea International Trade Association to Support Export-Import Financing

At the agreement ceremony held on the 10th at the Korea International Trade Association in Samseong-dong, Gangnam-gu, Seoul, Choi Dong-wook, Vice President of Shinhan Bank's Corporate Foreign Exchange Group (left), and Han Jin-hyun, Vice Chairman of the Korea International Trade Association (right), pose for a commemorative photo.

[Asia Economy Reporter Kim Hyo-jin] Shinhan Bank announced on the 10th that it has signed a business agreement with the Korea International Trade Association (KITA) to boost the export vitality of member companies and support export-import financing.

Through this agreement, both parties will strengthen their mutual partnership and work together to revitalize export-import activities by ▲ launching the Shinhan Card Change-Up corporate check card exclusively for KITA member companies ▲ providing preferential exchange rates and waiving overseas remittance fees when conducting foreign currency transactions through Shinhan’s main export-import accounts ▲ advancing overseas e-commerce export payment settlement services.

Accordingly, Shinhan Bank will waive the overseas usage fee (1.2% of the transaction amount) for overseas merchant online and offline payments made using the corporate check card exclusively for KITA member companies. Additionally, for main export-import foreign currency account transactions, the bank will waive overseas remittance fees up to three times per month for both sending and receiving export-import related overseas remittances, and offer preferential exchange rates (70% discount) on USD, JPY, and EUR.

A Shinhan Bank official stated, “Through the business agreement with KITA, we are now able to provide export-import financial benefits to more trading companies,” and added, “We will continue to strive to offer practical support and benefits to member companies through cooperation with KITA, including the activation of online exports.”

This content was produced with the assistance of AI translation services.