Hana and Woori Bank Open First Joint Branch in Sinbong-dong, Yongin

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[Asia Economy Reporter Yoo Je-hoon] Hana Bank announced on the 25th that it will open the banking sector's first joint branch with Woori Bank in Sinbong-dong, Suji-gu, Yongin-si, Gyeonggi Province.

Sinbong-dong in Yongin is an area where Hana Bank's Suji Sinbong Branch and Woori Bank's Sinbong Branch both closed their operations side by side in 2021. The two banks reached a consensus that this area has the optimal conditions for operating a joint branch, leading to this initiative.

The two banks will each use half of the approximately 50-pyeong (about 165 square meters) business space within the Woori Bank Sinbong Branch, which was closed last year, and will respectively handle counter services most frequently used by elderly customers, such as deposits and withdrawals, various notifications, electronic finance, and utility bill payments. Since the joint branch is operated mainly for digital finance marginalized groups such as the elderly, it will focus on simple deposit and withdrawal services and notification tasks.

Additionally, the joint branch will have a total of four employees, two from Hana Bank and two from Woori Bank, working during business hours from 10 a.m. to 3 p.m., with plans to operate flexibly depending on future circumstances.

A representative from Hana Bank's Channel Innovation Section stated, "Through the joint branch operation of Hana Bank and Woori Bank, we expect a significant improvement in financial accessibility for local residents following branch closures," adding, "We will continue to make efforts to minimize inconvenience for financially vulnerable groups such as the digitally disadvantaged and to improve accessibility to offline channels."

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