KEB Hana sign deal with SK Telecom to digitize bank

KEB Hana Bank signed a partnership with SK Telecom, the country’s largest mobile carrier, and SK Telink on Friday to digitize the bank and launch a joint marketing campaign that will connect the carrier’s subscribers with financial offerings from the bank. SK Telink, which provides tech solutions, is wholly owned by SK Telecom.

With the agreement, a user of SK’s thrifty phone plan could get a discount when they fulfill certain requirements such as designating KEB Hana Bank as the account their salary is paid to or regularly transferring monthly pension payments from a KEB account. The partnership will draw in SK Telecom’s expertise on artificial intelligence and big data in advancing digitalization at the bank.

The move is the latest in a series of partnerships that combine finance with the telecom business after KB Kookmin Bank teamed up with mobile carrier LG U+.

By Park Eun-Jee