Hana Bank Successfully Makes Foray in Taiwanese Market by Opening Branch in Taipei

Kim Jin-seok, manager of the Taipei Branch poses for a photo with other officials in a ceremony in honor of the opening of the branch on April 25. (Photo: Hana Bank)

Hana Bank succeeded in making a foray into the Taiwanese market.

The Hana Financial Group will play a key role in its leap forward as Asia’s top financial group, said Group Chairman Ham Young-joo in his inaugural address.

On April 25, Hana Bank announced that it had successfully entered Taiwan, a first for a Korean bank, by opening a branch in Taipei, the capital.

Hana Bank, which obtained an opening authorization from Taiwanese financial authorities in June last year, opened the Taipei branch after 10 months of preparations.

This time, Hana Bank became the only bank with a network operating in all 10 of the following countries: Taiwan, China, the United States, Vietnam, Hong Kong, Japan, India, Germany, Singapore and Mexico.

Hana Financial Group now has 194 branches and offices in 25 regions around the world.

As a result, Korean companies and Korean residents in Taiwan and Taiwanese companies doing business with Korean companies and Koreans will be able to use various financial services, financial experts say.

The opening of the Hana Bank branch in Taipei will considerably alleviate the inconvenience of using financial services organizations not versed in Korean methods.

The Taipei branch will also serve as a major Asian post for global investment banking (IB), as suggested by Chairman Ham.

With a government-led economic development plan, it is expected to achieve positive results in infrastructure finance and aviation finance, among others, by focusing its capabilities on targeting the Taiwan IB market, where public infrastructure fields like aviation, railroads and energy are active.

“We will provide better financial services and more convenience to Korean companies and Koreans in Taiwan and Taiwanese customers who need to trade with Korean companies and Koreans,” a Hana Bank official said.

“The Taipei branch is preparing to apply for an offshore banking unit (OBU) license that can perform the offshore banking business in order to solidify its position as a major financial institution in Taiwan’s international financial market and attract blue chip local companies,” he added.

In the meantime, Hana Bank announced on May 4 that it had signed a business agreement with BuildBlock, an American real estate investment platform company, to provide total solutions and services related to real estate investment in the United States at Hana Bank PB Centers around the county.

Hana Bank signed the agreement to provide better wealth management services to customers with a big interest in U.S. real estate investments.

BuildBlock is a platform company that provides services for Koreans to easily and safely invest in U.S. real estate.

With its headquarters in Silicon Valley and branches in major investment areas such as Los Angeles, New York and Texas, it recommends real estate properties in the United States and directly manages and manages real estate invested by customers.

Hana Bank will provide total solutions and services related to U.S. real estate investment such as U.S. real estate investment advice, Korean real estate purchase consulting for foreign investors and support for overseas direct investment and overseas real estate investment reports and foreign exchange transactions and loan consulting.

In addition, following the signing ceremony, Hana Bank will hold U.S. real estate investment seminars at regional PB centers with the first one at Hana Bank Club One Hannam PB Center.

Applications related to the U.S. real estate investment seminar can be made through the nearest Hana Bank PB Center.

“Through this agreement, Hana Bank will further solidify its position as a leading bank in the field of overseas real estate investment,” said an official at Hana Bank’s WM Headquarters.