Korea Post to Launch Limited Sale of 'Daily Interest Parking Account'

The Korea Post (hereafter referred to as Korea Post) announced on July 31 that it will launch a new product, the "Korea Post Daily Interest Parking Account," limited to 100,000 accounts, starting from August 1.

Provided by Korea Post Headquarters

This account allows free deposits and withdrawals, and provides an annual interest rate of up to 2.0% (pre-tax) on daily balances up to 10 million won. This rate consists of a base annual interest rate of 1.6%, plus a preferential rate of 0.4%.

The preferential rate is available to first-time customers of demand deposit accounts, customers aged 50 or older, core customers with an average monthly balance of at least 300,000 won in demand deposit accounts, customers who join the Korea Post Integrated Membership (Itta Money), and customers who participate in donations.

Unlike existing parking accounts, which paid interest once a month, this new product pays interest daily using a daily compound interest method, even if funds are deposited for just one day. This structure allows customers to receive interest every day, making it optimized for managing short-term surplus funds.

As part of its social contribution activities, Korea Post will also provide an additional preferential rate of 0.2 percentage points to customers who donate at least 1,000 won after opening the "Daily Interest Parking Account." All donations will be delivered to the Korea Organization for Rare and Intractable Diseases through the Korea Post Public Foundation and will be used to support the treatment of patients with rare diseases.

To commemorate the launch of the new product, a sign-up event will be held. Among new customers, 1,711 winners will be selected by lottery to receive prizes, including a Galaxy S25 Ultra 1TB (1 winner), gold bars (10 winners), Korea Post Shopping gift certificates (300 winners), and mobile gift certificates for department stores and convenience stores (1,400 winners).

Further details about the product can be found at post offices nationwide, the Korea Post Savings Customer Center, and the Korea Post website.

Cho Haekeun, Head of Korea Post, stated, "We have launched the Daily Interest Parking Account to provide optimal interest benefits for short-term fund management and enhance customer convenience in managing their funds," and added, "Korea Post will continue to expand its public role by developing financial products that reflect the diverse needs of customers and contribute to improving people's lives."