Western Union Expands in South Korea with NH Investment & Securities

Regional News By Karen Santos January 27, 2021

Western Union, and NH Investment & Securities (NH I&S), one of the largest investment and securities companies in South Korea, have teamed up.

The two now offer NH I&S account holders in South Korea the choice to send and receive money using Western Union via the firm’s 24/7 mobile app or 85 branch locations across South Korea. NH I&S Account holders will have the option of their transfer being paid into recipient bank accounts in select countries* across the world or at 550,000 retail locations in over 200 countries and territories.

Providing multi-channel choice to customers is an important goal for Western Union – whether that is to pay-in or pay-out funds based on their individual preferences. We are serving customers directly through our own branded channels or offering services in partnership by innovatively integrating our services via a branded, co-branded, or white-label model. This reshaped business model is enabling us to serve customers in a manner that is most convenient to them.

“We have integrated Western Union services to meet the unique needs of our diverse customer base. The addition of Western Union is a part of our commitment to offer service excellence for our customers by offering the widest range of services under one umbrella.  The integration of Western Union’s global digital capabilities is of utmost importance. To optimize our relationship, we are dedicating resources to expand services,” said Ji-Hoon Song, Director of Headquarter, WM Sales Strategy Department, NH Investment & Securities. “Evolving globalization and digitalization are shaping the financial industry and we believe it is important to adopt a multi-channel strategy, providing customers choice so that they have the best experience.”

*Australia, Austria, Canada, China, Czech Republic, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Netherlands, Philippines, Spain, Switzerland, Thailand, United Kingdom, USA, Vietnam