Shinhan Bank announced that it inked a business agreement with Korea Water Resources Corporation (K-water), at the bank’s headquarters in Jung-gu, Seoul on April 4.
The agreement aims to actively support Korean water companies in their overseas expansion by combining K-water’s world-class water technology capabilities and overseas business experience, such as digital twins, AI water purification plants and smart pipe network management with Shinhan Bank’s global financial network.
The major areas of cooperation include joint development and discovery of overseas water projects; support for local financing and financial solutions; overseas information and network sharing; business risk management and legal; accounting support; and the expansion of smart water technology applications.
K-water has already implemented 168 overseas projects in 47 countries. It is actively promoting its business in the Philippines, Indonesia, and Vietnam.
Shinhan Bank has a global network of 169 branches in 20 countries, with more than 100 branches in major countries in Southeast Asia.
“This agreement will be a strong bridgehead for Korean water companies to easily enter the global market,” a K-water official said. “We will further strengthen our overseas business activities through a technology-finance collaboration model.”
Opening of Deposit Token e-Wallet
Shinhan Bank announced that it opened a deposit token e-wallet at Shinhan SOL Bank to participate in the Bank of Korea’s digital currency test “Project Han River” on April 1.
The pre-registration began on March 25. The bank enjoyed success with over 30,000 applicants, including over 13,000 in two days.
The first 16,000 pre-application customers will be able to sign up for the service on a priority basis beginning from April 1. Shinhan SOL Bank will open a deposit token e-wallet.
Customers who wish to participate in the live test can open a deposit token e-wallet in the SOL Wallet menu of Shinhan SOL Bank and convert their existing deposits to deposit tokens.
They can then use a generated QR code to make payment at merchants online and offline.
During the project period, which runs until June 30, the user’s deposit token holding limit is 1 million won. Deposit tokens that can be converted during the period are limited to 5 million won.
Shinhan Win-Win Installment Savings for Parents with Two or More Children
On March 24, Shinhan Bank launched “Shinhan Win-Win Installment Savings for Parents with Two or More Children,” a new win-win financial product to help Korea overcome its low birthrate issue.
Shinhan Win-Win Installment Savings for Parents with Two or More Children offers preferential interest rates to customers who contribute to helping the nation overcome its low birth rate issue.
They are customers who have married, become pregnant, or given birth during the subscription period and customers with two or more children.
The subscription period is 12 months. Customers can deposit up to 300,000 won per month.
Its interest rate is 2.5 percent per annum on the base rate plus 5.5 percentage points per annum on the preferential rate so it can reach up to 8.0 percent per annum.
The preferential interest rates are 1.0 percent per annum for marriage, pregnancy and childbirth during deposit holding periods, 1.0 percent per annum for multi-children based on minors born after 2007 (1.5 percent per annum for two children / 2.5 percent per annum for three or more children), 1.0 percent per annum for using the Seoul Baby Happiness Card (credit cards/debit cards), 1.0 percent per annum for receiving one of the following — parental benefits (welfare allowance), infant or child allowance for at least 6 months — through Shinhan Bank accounts and 1.0 percent per annum for the first transaction with Shinhan Bank.
Shinhan Bank launched Shinhan Win-Win Installment Savings for Parents with Two or More Children with a limit of 100,000 accounts.
Customers will be able to hand in their documents to apply for the preferential interest rate by scraping them and taking photos of them.
_신한은행 한국수자원공사.jpg)
