Korea Post Offers I-Card Deposit Service
- Interest earnings from special deposit double those at banks

Korea Post and Hyundai Card in a strategic tie-up with each other, agreed to offer a financial product from Sept.22 with interest earnings double that of regular bank deposit interest  rates.

A special feature of the I-card regular deposit is that it allows the issuance of Hyundai Card as its deposits as collateral and return savings from expenses related to loan loss provisions and attracting credit card subscriber applicants to customers who can earn double those they can make from interest earnings on regular bank deposit interest rates. The product is emerging as one of the best ones in this age of low interest rates, Korea Post officials said.

Any Korean national who is older than 21 years is eligible to become I-Card depositors for a year and then renew it every year for five years. The minimum deposit is 5 million won per year and there is no maximum amount limit.

Korea Post will pay 0.2 percentage point more than the deposit interest rate on its Champion  Regular Deposit in addition to the maximum of 2.5 percent in cash for amount used with Hyundai Credit Card.

The I-card deposit holders who used 10 million won with Hyundai credit card will be paid 1.25 million won in cash in earnings at the end of 12 months.

In addition, Hyundai card holders will have after hours cash service and transfer service charges for three months waived if they use Korea Post cash dispensers(CDs). They will also have discounts when they buy air tickets, stat at hotels, use tax free shops,  beauty parlors and health checks, among others.

For those I-Card deposit holders with more than 10 million won deposits will be the beneficiaries of a 10 million won insurance coverage.

Korea Post officials said those who already hold regular bank deposits would might as well switch to the I-card deposits and take advantage of a larger interest earning, additional services  exemption of many fees and income tax exemption at the end of the year.

Korea Post and Hyundai Card decided to give free points up to 5 percent to the users of Hyundai Card until Jan.10 next year, in addition to a lottery to select the winner of a 500,000 won gift coupon.

e-PostBank

It is the most advanced Internet Bank newly established as a part of CYBERKOREA21 program.

Without visiting post office directly, you can easily access to and enjoy the most customerized and convenient Internet banking services of e-POSTBANK from your home or office PC. The services of e-POSTBANK include fund transfer, account view activity, customer information service and other banking related services.

The e-POSTBANK is directly operated by the government and has 2,800 branch offices nation-wide. The e-POSTBANK has the reputable public trust and provides the most secure banking services.

The e-POSTBANK makes a sincere effort to improve the quality of individual life and takes a step forward to build national fundamentals for new era of the 21st century by providing wide range of Internet banking services.

CYBERKOREA21

The national program that aims to establish the fundamentals of the creative knowledge-based infrastructure in order to improve the quality of individual life to enjoy various benefits from Internet as a new social environment.

Korea Post is in charge of postal services and financial services by post offices.

Its major business area include providing basic postal services of handling and delivering postal matters(general mails and parcels); Provide additional postal services(registered mails, acceptance of postal matters at the customers' location, sales of local products by mail order, and postal errand service, etc.); Handling postal savings, postal money, order and postal giro; And handling postal insurance.   nw