Shinhan, Hana, and IBK Selected as Preferred Negotiation Partners for Nara Sarang Card

Shinhan, Hana, and IBK Selected as Preferred Negotiation Partners for Nara Sarang Card Phase 3
KB Kookmin Bank Eliminated from Bidding

Shinhan Bank, Hana Bank, and IBK Industrial Bank of Korea have been selected as the preferred negotiation partners for the third phase of the 'Nara Sarang Card', a debit card exclusively for military personnel.

According to the financial sector, Military Mutual Aid Association C&C notified these banks on April 30 that they had been selected as preferred negotiation partners.

A total of four banks participated in the bidding for the third phase of the Nara Sarang Card: KB Kookmin Bank, Shinhan Bank, Hana Bank, and IBK Industrial Bank of Korea. Among them, KB Kookmin Bank, which had served as the operator for the second phase of the Nara Sarang Card, was eliminated from this round of competition.

The Nara Sarang Card is a debit card exclusively for military personnel, used from the time of conscription examination through active duty and reserve service periods.

The third phase of the Nara Sarang Card project will run for a total of five years, from 2026 to 2030. The Military Mutual Aid Association plans to finalize the project operator next month.

A representative from Hana Bank, which was selected as a preferred negotiation partner, stated, "Hana Bank was highly evaluated for its specialized financial products for military personnel and its operational plan for the Nara Sarang Card presented during the competitive presentation process." The representative added, "Hana Bank has led the way in enhancing convenience for military personnel by launching a variety of exclusive online financial products for the military and driving digital process innovation. We will continue to provide unwavering support for the military personnel who dedicate themselves to the Republic of Korea."