On Nov. 14, Hyundai Department Store President Jung Ji-young (left in the photo) and Hana Bank Chairman Lee Ho-sung are taking a commemorative photo at the business agreement ceremony held at the Hyundai Department Store headquarters in Gangnam, Seoul. /Courtesy of Hyundai Department Store

Hyundai Department Store announced on the 15th that it has signed a memorandum of understanding (MOU) with Hana Bank for the launch of a savings product.

Under the agreement, the two companies will introduce the "More Hyundai Hana" savings product, which combines bank interest rates with benefits from Hyundai Department Store gift certificates. The product offers a preferential interest rate of up to 4.0% for regular savings and pays an additional 4% of the principal amount at maturity in the form of Hyundai Department Store gift certificates.

Monthly contributions will provide benefits such as a 50% discount coupon for the More Hyundai Seoul Art Museum "ALT.1," a 5,000 won dining voucher, and an exchange voucher for a white travel pouch.

Jeong Ji-young, president of Hyundai Department Store, noted, “We pursued this agreement to offer differentiated benefits and services to our customers,” and added, “We will continue to introduce innovative products and services that meet customer demand.”