New President Park Sung-ho of Hana Bank.

Hana Bank announced that it arranged green loans for eco-friendly projects worth 100 billion won on March 2.

A green loan is used exclusively for eco-friendly projects, such as new and renewable energy, electric vehicles, and the elevation of energy efficiency.

A third-party organization screens how the loan will be used and to what end. Then a financial institution provides the loan as part of green finance.

The 100 billion won green loan arranged by Hana Bank supports domestic wind power generation projects for renewable energy production.

The project has obtained a certificate for a green loan from Deloitte Anjin Accounting Corporation, a third-party certification agency.

“With the introduction of the green loan, Hana Bank will not only have more confidence about eco-friendly financial products but contribute to the spread of green finance in line with the Green New Deal led by the Korean government,” a Hana Bank official said.

Park Ji-hwan (right), vice president of the CIB Group at Hana Bank and Park Jae-byung, CEO of Caredoc, hold a business agreement on promoting joint elderly care projects in a signing ceremony at Hana Bank Headquarters on March 16. (Photos: Hana Bank)

Meanwhile, Hana Bank is planning to launch customized financial services through the development of a platform for the silver care industry.

Hana Bank announced on March 18 that it signed a business agreement with Caredoc, a senior care service brokerage platform company, to promote joint projects to take care of senior citizens.

Caredoc is a customized elderly care platform company that brokers nursing facilities and elderly care service experts nationwide.

It is the industry’s No. 1 platform company, with more than 1,700 monthly active caregivers and 30,000 actual users.

Through the agreement, the two companies will cooperate with each other in developing payment and settlement system for nursing expenses, providing customized financial products and services for the elderly care market and the joint development of platforms for the elderly care industry.

Hana Bank will provide customized financial products such as trusts for dementia patients and senior insurance for platform users, starting with the development of a system for automating settlement such as wiring money as care services fees to caregivers.

In addition, Caredoc will continue to strengthen cooperation with Hana Bank in the joint development of systems in order to expand its business as a “senior citizen care platform” that can provide full-cycle services for the elderly such as food, medical, welfare product and funeral services.

“The paradigm is changing, such as the rise of new senior citizens, as the elderly car industry grows thanks to an increase in the elderly population,” said an official of Hana Bank’s CIB Group.

“Hana Bank plans to expand diverse cooperation and platform business in preparation of a new era of elderly care services by big companies.”

Hana Bank currently runs 26 branches across China, including Beijing, Shanghai and Qingdao. In 2020, Hana Bank China racked up 84.5 billion won in net profit, a 10-fold increase from 7.5 billion won a year earlier.

Hana Bank’s Chinese subsidiary saw its net profit fall 86 percent on year in 2019 due to the U.S.-China trade conflict and an economic downturn in China.

In 2020, Hana Bank actively secured mobile customers by launching affiliated products and opening mobile branches in cooperation with Chinese companies.

Hana Bank’s Chinese subsidiary launched a digital mobile loan service in partnership with China's online travel platform Ctrip in 2020.

The loan service provides small amount and short-term financing services similar to those of credit cards for individual customers based on Ctrip’s mobile platform.

Hana Bank China opened a mobile branch exclusively for users of Alipay, a third-party mobile and online payment platform in China by joining forces with Alibaba Ant Group.

The launch of the mobile branch empowered Hana Bank China to sell various deposit products to one billion customers who use Alipay.