Chairman Kim Jung-tae of Hana Financial Group, Vice Chairman Chung Chan-woo of the Financial Services
Commission and President John Winter of Barclays Corporate Finance are among the officials of both
financial institutions after signing an MOU to cooperate in banking activities in Africa, using
the British bank’s extensive financial network in the Dark Continent at the InterContinental
Park Lane in London Nov. 11. (Photo:Hana Bank)
The bank becomes first domestic bank to operate in Africa to help Korean firms and kicks off “Let’s Be One” campaign from Nov. 11 to Jan. 11, next year
Hana Bank, an affiliate of Hana Financial Group (HFG), said it has signed an MOU with Barclays Africa at the InterContinental Park Lane in London on Nov. 5 to provide support to Korean firms advancing to Africa, the bank said recently.
Present at the signing included Chairman Kim Jung-tae of HFG, Vice Chairman Chung Chan-woo of the Financial Services Commission, and President John Winter of Barclays Corporate Finance, among others.
Under the MOU, Korean firms operating in Africa will be able to get financial transactions done through the British bank’s vast network in African nations. The Dark Continent is the last untouched market for Korean financial institutions. The British bank is operating in 12 nations in Africa, which will provide effective and competitive banking services to Korean firms, officials of Hana Bank said.
The agreement covers providing information on African countries to Korean firms, remittances, trade, and trade finance, in addition to personnel exchanges between the two signatory banks to train them to work in African nations so that Korean personnel can be assigned to the Korean windows at Barclays outlets in Africa to expand banking services to Korean firms.
Chairman Kim said Hana Bank has become the first Korean bank to provide banking services to Korean firms advancing or wanting to operate in Africa and the banking services though Barclays Bank branches will be expanded in the future as Korean windows are set up at more of the British banking outlets in Africa.
Barclays Bank’s Financial Rep. Matt Tuck said he is very glad that Barclays will be able to provide its banking services and know-how in Africa, which it has accumulated for 100 years, to Hana Bank’s customers under the MOU and the two banks will cooperate in the African financial market with limitless growth potential.
In the meantime, Hana Bank hosted a seminar jointly with Korea Trade and Investment Promotion Agency (KOTRA) for Korean firms with plans to enter Africa for business on Oct. 16 before signing the MOU with Barclays. Some 40 officers and staff members from 29 domestic firms interested in doing business in Africa attended the event, showing great interest in financial services available from Barclays outlets and the business conditions in many countries in Africa.
Barclays Bank Plc is the third largest bank in the Tier 1 Group in Britain, ranked 15th globally with 339 banking outlets in 12 countries in Africa. The bank recently took over the Absa Group, ranked third largest in South Africa.
In the meantime, HFG kicked off the “Let’s Be One” campaign on Nov. 11 with neighbors, companions, and the world thru sharing and caring for each other until Jan. 11. (Both the starting and ending dates have only the number “1” in them,) The ceremony got underway at 11 a.m. on Nov. 11 at the plaza in front of the Korea Exchange Bank head office in Seoul and was attended by CEOs of all affiliates of HFG, members of the Family Love Service Corps, and women of multicultural families in Korea, the group said.
The events included the lighting of the Sharing Lamp; a chorus of Do Share Love by officers and staff members of Hana Bank and KEB’s overseas branches on video; and the delivery of 11,111 cabbages to 1,111 needy families by members of the Family Love Service Corps and women of the multicultural families under the program titled “Love Kimchi Making.”
Chairman Kim Jung-tae said in his salutary speech, that this year’s event was the third one, firmly establishing itself as a traditional sharing event for Hana Financial Group as part of social contribution activities that would continue to be thought of in daily lives since it will be connected with a healthy financial group, healthy officers and staff, and a healthy society.
From the event this year, the campaign will be extended overseas, including China, Indonesia, Vietnam, Hong Kong, North America, and Europe, so that the officers and staff of the HFG affiliates assigned overseas can participate in the campaign and so that HFG’s strategy to be among the top 50 financial groups in the world and a global corporate citizen can be achieved.
