Seoul, South Korea, Feb. 18 (Korea Bizwire) — MoneyGram (NASDAQ:MGI), a leading global money transfer company, has renewed its agreement with Kyongnam Bank, a leading bank in South Korea, to continue to provide money transfer services at the bank’s one hundred and fifty (150) locations throughout South Korea. Kyongnam Bank has been a MoneyGram agent for nearly ten (10) years.
“We have a very strong service-oriented relationship with MoneyGram that benefits our customers and our employees,” said Mr. Kim Chang Hyo, General Manager of International Trade Business Department of Kyongnam Bank. “Speed, convenience, reliability and value are important considerations for money transfer consumers, and they are priorities for MoneyGram. The MoneyGram team also understands market needs and responds with speed and accuracy, which is invaluable and critically important to continued customer satisfaction. We’re thrilled to extend our relationship with such a strong global brand.”
South Korea is a significant remittance sending market in Asia Pacific, with an outflow of approximately $11 billion in 2013, according to the World Bank. With the continued movement of people across the region and the world for education and work, demand for remittance services remains strong.
“Retaining and extending existing agent relationships is important to MoneyGram’s continued success,” said Yogesh Sangle, senior regional director for Asia. “Our strong relationship with Kyongnam Bank is a clear sign that MoneyGram’s services bring value to our mutual customers.”
About MoneyGram International, Inc.
MoneyGram, a leading money transfer company, provides essential services to consumers who are not fully served by traditional financial institutions. MoneyGram offers worldwide money transfer services in more than 200 countries and territories through a global network of 350,000 agent locations, including retailers, international post offices and banks. MoneyGram also offers bill payment services, issues money orders and processes official checks in select markets.
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Source: MoneyGram via GLOBE NEWSWIRE