[Asia Economy Reporter Kim Hyo-jin] During this Chuseok holiday, it has become difficult to use bank mobile branches at major tourist sites and highway rest areas due to the impact of the novel coronavirus infection (COVID-19). Banks have decided not to operate mobile branches in line with the government's recommendation to refrain from traveling to and from hometowns.
According to the banking sector on the 30th, major commercial banks such as KB Kookmin, Shinhan, Woori, Hana, and NH Nonghyup have decided not to operate mobile branches during this holiday. This contrasts with the Lunar New Year holiday in January, when 14 mobile branches from 9 banks operated at highway rest areas and train stations nationwide.
An official from a bank explained, "Mobile branches have limited space, which increases the likelihood of close contact among users," adding, "In cooperation with the government's quarantine guidelines, we have decided not to operate mobile branches this time."
It also appears that the demand for mobile branches is not as high as before, partly because the use of mobile banking has increased, especially among younger generations.
Instead, banks plan to maintain services to the fullest by increasing flexible branches that operate with flexible hours and working days. Six banks?Shinhan, Woori, Hana, SC First Bank, IBK Industrial Bank, and Daegu Bank?will operate 22 flexible branches through Gimpo Airport, Incheon International Airport, the Foreign Financial Center, and branch offices.
Meanwhile, loan maturities for financial companies due between today and the 4th of next month will be extended to the 5th of next month without overdue interest. Payments for credit card bills and automatic deductions will also be deferred until the 5th.
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