IBK Industrial Bank of Korea Launches New 'IBK BUDDY' Products Exclusively for Foreign Customers

IBK Industrial Bank of Korea (President Kim Sungtae) announced on April 21 that it has launched a new product exclusively for foreign customers: the 'IBK BUDDY' account and card. The product name was chosen to convey the intention of providing warm and friendly financial services, like a friend.

The 'IBK BUDDY Foreigners Account' is a demand deposit account that offers unconditional exemptions from electronic financial transfer fees, interbank automatic transfer fees, interbank ATM transfer fees, and interbank ATM withdrawal fees. Additional benefits include an 80% preferential exchange rate for major foreign currencies and exemption from SMS transaction notification fees if the account holder deposits at least 500,000 KRW in the previous month.

The 'IBK BUDDY Card' is a debit card that offers a 5% discount with no limit on the number of times the discount can be used in six everyday categories: public transportation, mobile communications, Daiso, delivery apps, convenience stores, and Coupang. Depending on the previous month's usage, a maximum total discount limit of 10,000 KRW per month applies.

To commemorate the launch of these new products, IBK Industrial Bank of Korea is holding an event until June 30 for customers who are opening an account with the bank for the first time and who sign up for both the 'IBK BUDDY Foreigners Account' and the 'IBK BUDDY Card.' Through a drawing held from April to June, a total of 1,100 customers will receive 10,000 KRW in cash deposited into their accounts, and a total of four customers will receive a Galaxy S25 (256GB).

Customers can apply for the 'IBK BUDDY Foreigners Account' and 'IBK BUDDY Card' at IBK Industrial Bank of Korea branches or through the i-ONE Bank Global mobile banking app, which is dedicated to foreign customers.

An IBK Industrial Bank of Korea representative stated, "We developed these new products to meet the financial needs of foreign customers, based on our own surveys and on-site meetings." The representative added, "We will continue to listen to feedback from the field in order to further improve financial accessibility for foreign customers."

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