SEOUL, SOUTH KOREA-- May 10, 2021 -- Western Union, a global leader in cross-border, cross-currency money movement and payments, and Korea Investment & Securities (Korea I&S), one of the leading providers of financial services in South Korea, collaborate to offer Western Union consumer-to-consumer money transfers, via retail and digital channels.

Korea I&S account holders in South Korea may choose to send Western Union money transfers via truefriend.com or the company’s mobile app (available for Android and iOS), or send and receive at more than 88 Korea I&S locations across the nation. Money transfers sent via Korea I&S digital or retail channels can be paid out into recipient bank accounts in select countries[1] or at more than 550,000 retail locations in more than 200 countries and territories.

The digital service capability will be operational in the coming months to enable Korea I&S account holders to receive money transfers via web and app.

Leading regional partners have seamlessly integrated Western Union’s cross-border, cross-currency money moving capabilities into their platform, giving customers the convenience and choice to transfer money worldwide. Western Union has opened its platform to enable leaders in e-commerce, telecommunications, financial services, and other sectors to expand into new markets and expand service for their customers.

“Western Union is a global leader in cross-currency, cross-border money movement, enabled by technology,” said K. Premmananth, Head of Network, Singapore, Indonesia and North Asia, Western Union. “We have challenged ourselves to leverage our platform to offer many new ways for our customers and clients to move money globally. We are delighted to collaborate with Korea I&S, providing a multi-channel offering connecting the digital with the physical and servicing a multi-generational user base.”

“At Korea I&S, our commitment is to serve our customers efficiently while exploring new ways to meet the changing needs of our customers,” said Simon SP Mun, Executive Vice President, Korea Investment & Securities. “Western Union sets the standard for international money movement and we are excited to collaborate with them, giving our customers greater ease and access in every transaction they make while upholding what matters most to them- speed, reliability and convenience.”

CUSTOMER GUIDANCE

· To send and receive money at locations, account holders can walk into more than 88 Korea I&S locations and process their money transfers. Senders can fund their transfers from their accounts, and South Korean receivers can direct their money transfers into their accounts.
· To send money via a mobile app, customers can fund their money transfers through their Korea I&S account.

In line with Korea’s local laws and regulations, before the first use of the service, customers can visit any Korea I&S location to open an account and for verification, or they can register on the mobile app and opt for electronic verification. Acceptable IDs include, among other options, a valid resident registration ID or a driver’s license.

Once the account is verified and active, customers can conveniently send and receive Western Union money transfers at either Korea I&S locations, or send via their mobile app anytime—with a few clicks.

Customers can learn more by calling the CS Center Local Line 1544-5000 or CS Center Overseas +82-2-2090-4000 or by visiting www.truefriend.com for support.