Park Hyung-joo, left, chief of KB Kookmin Bank's new business division, poses with GLN International CEO Han Joon-seong, at the latter's headquarters in Seoul, Friday. Courtesy of KB Kookmin Bank

By Lee Min-hyung

KB Kookmin Bank has inked a deal with GLN International, a global payment system provider, to take part in the Global Loyalty Network, the lender said Monday.

The network will help connect global financial and retail firms under one network, enabling them to make transactions freely via mobile platforms. The network partners will also be able to access global financial services such as remittance, KB said.

GLN International is a subsidiary of Korea's Hana Financial Group. The company supports mobile payment services in eight countries mostly in Asia.

KB Kookmin Bank expects the latest partnership deal to help its accessibility in overseas mobile payments and the use of overseas ATMs. Under the agreement, KB users will be able to use QR payment and ATM withdrawal services in countries such as Thailand, Taiwan, Singapore, Japan and Vietnam via its banking app.

"We have decided to push for the partnership to improve customer convenience when they are on an overseas tour," a spokesman at KB said. "KB will continue to enhance the global payment network and launch a series of new services for our customers."

GLN International also welcomed the partnership.

"The latest deal will pave the way for Korea's finance to expand its overseas network footing by reducing its reliance on overseas service providers," GLN International CEO Han Joon-seong said.