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Korea Exchange Bank has struck a chord with customers by offering New Year¡¯s gifts of banknotes in a range of foreign currencies. The gift sets are so popular that the initial 50,000 sold out just two days after they were introduced on Feb. 1. Customers bought an average of five sets a head. The bank produced the sets as the traditional gift for children from adults who pay respect to them on Lunar New Year¡¯s Day.
Due to a flood of requests, KEB has prepared another 300,000 sets and started distributing them to branches nationwide on Monday.
The gift sets consist of U.S. dollars bills, euros, Chinese yuan and Candian and Australian dollars. The US$2 bills are considered lucky since people say that Grace Kelly married Prince Rainier of Monaco after she was given a $2 bill by Frank Sinatra.
The gift cost between W12,000 (US$1=W936) and W42,000. If foreign currency bills in the already sold 50,000 sets are calculated in Korean won, they are worth W1.18 billion. Adding the additional 300,000 sets are taken into consideration, foreign currency bills worth a whopping W8.4 billion will circulate in the market.
KEB official Park Ki-jun hailed the bank¡¯s success in ¡°reading the minds of customers who want to give something special to their children.¡±
However, selling them earns the bank no profits since foreign exchange fees and wrapping costs were not included. However, KEB expects the gift sets to improve its image and to contribute to attracting children as future customers. They can be also used as a means to teach the concept of foreign exchange rates and invoke interest in the global economy among children, it added.
(englishnews@chosun.com )
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