Woori Bank of the Republic of Korea (ROK) and the Bank of China signed a memorandum Thursday in Beijing regarding cooperation in currency exchange, marketing and overseas computer networks.

According to the memorandum, the two banks will come up with ways to allow their customers to withdraw Korean won from ATMs in China and Chinese RMB from ATMs in the ROK.

Woori Bank, a leading bank in the ROK, entered China in 1995. It established its first Chinese subsidiary in Beijing in 2007.