Hana Financial Group opened its International Private Banking Center (IPC) in Gangnam, southern Seoul, one of the most plush areas in the capital city, with its name board both in English and Chinese.
Visitors are made to feel as if they have entered a Chinese bank. There are many financial products in Chinese and personnel working in the center are fluent in Chinese.
The center’s director, Kim Seung-jun, earned his MBA at a Chinese university and worked briefly for a Chinese firm in China. Most clerks in key places, such as the foreign exchange and PB sections, are fluent in Chinese.
What distinguishes the IPC apart from those of other banks is that it the Foreign Direct Investment Center operated by Korea Exchange Bank shares the same office. FDI takes care of foreign investors by providing counseling on Korea’s foreign direct investment regulations and Korean banks for remittance of foreign exchange funds.
It is the first time that Hana Bank has shared its office with FDI of KEB. In addition, the customers of Hana Bank can get access to the services provided by the Chinese Limited Corp. and all of the affiliates of the group in one place at the IPC.
IPC aims to attract Chinese investors to real estate in Korea in such areas Jeju island and Busan, whose statistics have been expanding in recent years. Group Chairman Kim Jung-tai ordered the establishment of the IPC to make money for the group by providing its financial services to the Chinese investors in Korea.
IPC already has a long list of Chinese customers, such as the Wankuer Group, the largest real estate investor in China, and the Langshi Group, a Chinese fashion group.
Shin Sang-kuo, vice chairman of the fashion group, said they got a lot of help from the IPC when the group bought shares of the Agabang and Company in Korea, and his group intends get more help from the IPC when its M&A fund acquires more shares in a Korean company.
Chairman Kim noted that the IPC will play a key role in the management of global assets and the exchange of investments for Hana Financial Group.
The chairman also said he plans to expand the IPC to set up branches in key financial locations around the world, in such countries as the U.S. and China, to build an international financial network, while opening domestic branches in Busan and Jeju, following the establishment of its No. 1 branch in Yeoksam-dong, Seoul.
The chairman also said the IPC will have its own offices in the Hana Bank Customer Center in Samsung-dong, near the old Korea Electric Power Corp. building at the cost of some 50 billion won, which will have space for art and finance so that customers learn to appreciate art while making financial deals to increase their financial assets
Hana Financial Group offers ample opportunities for all employees to realize their dreams, and helps customers expand their assets and grow their businesses, building its presence as a financial institution that does its utmost to contribute to establishing a prosperous society and maximizing shareholder value
With the Korean financial industry's most extensive overseas network, Hana Financial Group is poised to become one of the world's leading financial groups. This position is the result of the consistent business growth the group has shown since its inception in 1971 as Korea Investment & Finance, followed by its conversion to a commercial bank in 1991 and financial holding company in 2005.
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