Starting on the 20th, people in rural and fishing communities will be able to consult on and apply for unsecured loans from the four major banks at local post offices.
The Financial Services Commission said on the 13th that KB Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, Korea Post, the Korea Financial Telecommunications and Clearings Institute, and others signed a banking agency services agreement.
They agreed to pilot loan services at 20 hub post offices in county-level areas without commercial bank branches. Starting on the 20th, a total of eight unsecured loan products—two from each bank—will be sold on a consignment basis. The pilot post offices are in Goseong, Changnyeong, and Hadong in South Gyeongsang; Cheongyang, Taean, Danyang, and Goesan in North Chungcheong; Gurye, Damyang, Yeonggwang, and Hampyeong in South Jeolla; Bonghwa, Cheongdo, and Seongju in North Gyeongsang; Imsil, Sunchang, and Gochang in North Jeolla; and Pyeongchang, Hwacheon, and Hoengseong in Gangwon.
Customers in the pilot areas can receive loan consultations at the local hub post office, compare each bank's lending rate, limits, and other terms, choose the most favorable product, and take out a loan. The post office will handle public-facing services such as consultations and document preparation and receipt, while the respective banks will handle screening, approval, and post-management.
The government plans to review the pilot and, in 2027, expand the service areas and increase the loan products offered.