From left, Kim Bong-kyun, head of KT's enterprise division, Orkhon Onon, CEO of Mongolia's Trade and Development Bank, and Lee Hae-kwang, head of Woori Bank's retail banking business group, pose during a memorandum of understanding signing ceremony at KT's headquarters in Seoul, Wednesday. Courtesy of Woori BankWoori Bank has partnered with telecommunications provider KT and Mongolia's Trade and Development Bank (TDB) to offer integrated financial services for Mongolian nationals preparing to move to Korea, the bank said Wednesday.The three parties signed a memorandum of understanding (MOU) at KT's headquarters in central Seoul. The partnership is designed to support Mongolian workers and students from the pre-arrival stage through their settlement in Korea, providing access to financial and mobile services.Under the agreement, TDB will introduce customers in Mongolia who plan to use Woori Bank's overseas remittance services and KT's mobile network after arriving in Korea. Those customers may receive preferential terms on selected TDB loan and deposit products before departure.After arriving in Korea, Woori Bank will help the Mongolian nationals open remittance accounts at the bank's foreigner-focused branches. It will also provide preferential exchange rates and reduced overseas remittance fees.KT, meanwhile, will offer its lowest price-tier mobile plan and allow customers to link their mobile payment accounts to Woori accounts.The MOU signing ceremony was attended by Lee Hae-kwang, head of Woori's retail banking business group, TDB CEO Orkhon Onon and Kim Bong-kyun, head of KT's enterprise division."With the number of foreign residents in Korea continuing to increase, we aim to provide practical and interconnected financial and telecommunications services that can help them adapt to life in Korea," Lee said."We plan to roll out similar partnerships in other countries following the launch of the Mongolia program," he added.