Value context and insight. lkm@koreatimes.co.kr
Banks open more Sunday branches for foreign customers
Foreign customers wait for services at Hana Bank’s Euljiro branch in Seoul, Sunday. Korea Times photo by Lee Kyung-min
By Lee Kyung-min
John T. Emocling, 47, a welder from the Philippines who works at a factory in Pocheon, Gyeonggi Province, said he took a bus and a taxi to get to Hana Bank’s Euljiro branch in Seoul.
“It took me 30 minutes by bus and another 20 minutes by taxi to get here,” he said. “But I took the time because this is the only branch that opens on Sunday. I can’t come during weekdays because of work.”
He said he needed to send money back to his family in the Philippines. “I usually send them 1 million won ($673) a month. I heard about Hana Bank’s Euljiro branch from an online Filipino community where members share information about life in Korea," he said. “Many people recommended the branch, where people like me can go on Sundays. That’s why I’m here.”
Similarly, Fhely de Castro, 52, a domestic worker and private English tutor, said it took her 45 minutes to get to the branch. “I have to send money to my family in the Philippines, including my son and my mom. I earn about 2.5 million won per month and send them about 1.5 million won.”
What she liked most about the Euljiro branch was its language services. “Hana Bank has a translator who speaks Filipino, English and Korean. I heard she has been here for quite a while. She’s very quick and friendly with people, making us feel at ease," she said.
The translator, Veronica Viray, 52, said she has worked at the bank for eight years. “Many workers from my country need to open a bank account to send money back to the Philippines. Some of them open term deposits, too. I mostly help them with those.”
Foreign customers wait for services at Hana Bank’s Euljiro branch in Seoul, Sunday. Korea Times photo by Lee Kyung-min
Lim Jong-gap, who came to the branch from Seongnam, Gyeonggi Province, said he would like to see more bank branches open on Sunday.
“I didn’t know there was a branch that was open on Sundays until my wife told me about it. She heard about it from her friends. It took me a while to get here today, and I was surprised to see so many people at a bank on a Sunday. I think it would be a good idea for other banks to open more branches like this.”
His only complaint was that the branch seemed a bit crowded. “It would be great if the services were faster, although my wife says we can’t ask for much since it takes at least an hour to get any kind of document issued at a community center.”
Kim Sang-bong, team manager of the international trade and customer marketing department at the Euljiro branch, said foreign workers are increasingly viewed as a long-term customer base.
“We are glad to help more foreign workers gain access to everyday financial services. We also plan to organize events at places where foreigners gather,” he said.
Hana Bank has been operating Sunday branches near areas with many foreign residents since 2003, with 17 currently operating nationwide.
Like Hana, other commercial banks are also expanding Sunday services for foreign customers.
Woori Bank and Shinhan Bank operate foreign customer-focused desks at select branches, some of which open on Sundays.
KB Kookmin Bank runs specialized centers for foreign residents in areas like Ansan, Gyeonggi Province, with certain centers also open on Sundays for account opening, remittance and other services.
According to the Ministry of Justice, the number of foreign residents in Korea reached 2.78 million last year, up about 46 percent from 1.9 million in 2015.
Data from Statistics Korea shows that remittances account for 23.2 percent of foreign residents’ total income, the second-largest share after living expenses.