Kookmin, HSBC banks extend hours of operation

Fierce competition among banks appears to be signaling an end to traditional banking hours. A bank that will remain open year-round will make its debut in Korea Thursday while another will stay open later six days a week.

Hong Kong-based Hongkong and Shanghai Banking Corp. (HSBC) said Wednesday that it would launch ``night banking`` service Thursday, under which its branch in Pundang, a satellite city south of Seoul, will operate until 9 p.m. on weekdays, 6 p.m. on Saturdays and from 11 a.m. to 6 p.m. on Sundays and holidays.

Sunday and holiday service will be limited to consultations on deposits and loans and the presentation of documents for loans. Those wanting to deposit or withdraw money will be required to use automatic teller machines.

Meanwhile, Kookmin Bank will extend its hours to 6 p.m. on weekdays and 3 p.m. on Saturdays beginning Thursday. The new hours will apply until the end of April.

Park Hyeon-Jin witness@donga.com