Hanpass partners with KakaoBank on overseas remittances, lowering financial barriers for foreigners in Korea

[Financial News] Hanpass, a financial platform for foreigners, said on the 12th that it is pursuing a partnership with KakaoBank to provide overseas remittance services to foreigners living in South Korea.
The collaboration was arranged to coincide with KakaoBank’s first full-fledged launch of services for foreign customers since its founding. The two companies will work together to address the difficulties faced by foreigners living in Korea, who have encountered barriers to accessing financial services due to language issues and complicated procedures.
If the partnership goes ahead, foreign customers will be able to use Hanpass’s overseas remittance service directly through the KakaoBank app. By leveraging Hanpass’s global remittance network, transfers can be completed in an average of five minutes or less, with fees ranging from free to a maximum of 5,000 won. The service is expected to help reduce the time and cost burdens for foreign customers sending money to their home countries.
An industry insider said, “Allowing foreign customers to use overseas remittance through the bank app they use every day will improve access to the service,” adding, “Partnerships that combine banks’ customer reach with fintech firms’ remittance capabilities could help expand financial services for foreigners.”
The partnership is also attracting attention in the financial sector as a “closely integrated partnership model” that combines fintech’s specialized services with banks’ customer reach. It is seen as creating a mutually beneficial structure that connects each company’s strengths to services tailored to foreign customers and improves convenience.
Hanpass Chief Strategy Officer (CSO) Im Sang-taek said, “Our collaboration with KakaoBank has enabled us to provide foreigners living in Korea with a more convenient financial experience,” adding, “We will continue to pursue various partnerships to realize borderless financial services.”

[email protected] Choi Du-seon Reporter