South Korea’s KEB Hana Bank was selected as the Korea’s Best Trade Finance Provider for the 17th consecutive year by Global Finance, a U.S. magazine on global economy and finance, the bank announced on Thursday.

Global Finance said that KEB Hana has kept an unassailable lead in Korea in foreign exchange and trade finance sector by dealing with more than 2,000 banks from 136 countries, and added that the bank received high scores in trade finance transaction volume, market leadership, product and service quality and technology in trade finance.

KEB Hana last year became the first bank to launch an open account transaction (OAT)-based export checking service that allows exporters to check shipping status online without having to submit paper documents to the bank. It has been working hard to support exporters by conducting foreign exchange consulting service for small- and mid-sized firms and lectures on export and offering lectures on export and import for customers. An official from the bank said that it will step up its efforts to take the lead in the global market by developing innovative global financial services.

By Kim Jong-hoon and Choi Mira

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