Chairman Kim Jung-tai of Hana Financial Group.(HFG)

On Jan. 11, 2014, Hana Financial Group held a 'Start 2014' event. Attended by 12,000 executives and employees, the event served as an occasion to promulgate the Group's new vision, 'The Trusted Premiere Global Financial Group', and to make the pledge to grow Hana Financial Group into a top-tier global financial group trusted by its shareholders and customers.

PT Bank Hana’s operation in Indonesia commenced in 2007 with the acquisition of PT Bank Bintang Manunggal. The group took further action to expand its local presence in the S.E. Asian country this time by merging with local operations of the Korea Exchange Bank which was merged with Hana Bank in 2014 to be renamed as KEB Hana Bank.

The Indonesia local subsidiary emerged among the 30 largest banks in Indonesia boasting 2.8 trillion won in loans outstanding with 2 trillion won in deposits. Its net profit came to 43.6 billion won as of the end of 2018 doubled the same figures at the time of merger in 2014 and thus picked as one of the most successful sample of the Korean banks overseas operations.

A combination of globalization and localization, ‘glocalization’ embodies the Group’s basic principles of openness and diversity. Indeed, the Group hires most of the employees for its overseas operations from local communities. For instance, of the 255 employees at the Group’s Indonesian subsidiary, 98% are Indonesians, including three of the five members of the Board of Directors. Such a prudent approach in local markets has proven highly effective, as PT Bank Hana is already turning a profit after only two years in operation.

As early as 2007, the Hana Financial Group established a subsidiary in China, Hana Bank China, which now has 13 branches in the world’s most populous market. In 2009, Hana Bank China was licensed to perform transactions involving China’s currency, the Remnimbi, as well as debit card transactions.

A year later, the Hana Financial Group acquired an 18% stake in the Bank of Jilin Co. Ltd, solidifying its growing network of retail bank outlets in the region. The largest single investment in the Group’s history, this strategic partnership will give the Hana Financial Group access to the branch network of China’s second largest bank.

The group has been strengthening its operations in other ASEAN countries including Vietnam, the Philippines and Singapore in the investment banking area in particular.

A view of the HFG Building in Myeong-dong, Seoul. (Photos: HFG)