Hana Bank, Samsung Fire & Marine Insurance team up on service for foreign workers

Home > Business > Finance

Hana Bank, Samsung Fire & Marine Insurance team up on service for foreign workers

Published: 12 Sep. 2024, 18:07

SHIN HA-NEE
shin.hanee@joongang.co.kr

Samsung Fire & Marine Insurance Vice President Choi Jae-bong, let, and Hana Bank Deputy President Sung Young-su pose for a photo during a signing ceremony held at the Hana Bank headquarters in central Seoul on Wednesday. [HANA FINANCIAL GROUP]

Hana Bank and Samsung Fire & Marine Insurance signed an agreement on an insurance service for foreign workers in Korea, the companies said Thursday.

Through the partnership, foreign workers in Korea will be able to use a Hana Bank app to file insurance claims without having to submit physical documents, according to the bank.

The memorandum of understanding was signed on Wednesday at the Hana Bank headquarters in central Seoul.

With the signing of the deal, foreign workers in Korea on an E-9 nonprofessional employment visa or H-2 work-and-visit visa under the employment permit system will be able to file claims and inquire about the status of mandatory insurances provided by Samsung Fire & Marine Insurance, such as the departure guarantee insurance, through the Hana EZ mobile app.

The mobile app, which specializes in international money transfer services, will be available in 14 languages.

The agreement is the first of its kind in Korea, according to Hana Bank, as the service will be enabled by an open application programming interface connection between the bank and the insurer.

“We will continue our commitment to providing various support to make financial transactions easier and safer for not only foreign workers but all foreigners in Korea,” said a Hana Bank spokesperson in a release.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]