Hana Bank Sponsors ADB Annual Meeting in Incheon to Promote Global Business

Hana Financial Group’s booth at the Networking Hub on the first floor of Songdo Convensia. (Photos: Hana Financial Group)

Hana Bank officially sponsored the 56th Annual Meeting of the Asian Development Bank (ADB), which took place in Songdo, Incheon, Korea.

Hana Financial Group also publicized its global business through the operation of an exhibition pavilion at the venue of the annual meeting.

Hana Bank operated the exhibition pavilion in tandem with Hana Financial Group to promote its excellence in digital business, focusing on strengthening cooperation among global financial institutions and the group’s greatest strength, foreign exchange.

Hana Financial Group is the parent group of Hana Bank and other financial companies in Korea. It is one of Korea’s leading global financial groups. It went global with its first overseas expansion in 1967.

Currently, Hana Financial Group has a network of 208 overseas offices in 25 regions, and plans to use the ADB meeting to accelerate its global business through business agreements with overseas financial institutions and meetings with their top executives.

In addition, the Hana Bank booth at the Networking Hub on the 1st floor of Songdo Convention Center provided attendees of the ADB Annual Meeting with digital foreign exchange service experiences and highlights including Hana Financial Group’s overseas travel specialized service platform “Travlog” and Hana Bank’s simple currency exchange service “Exchange Wallet” under the theme of “Experiencing Digital Innovation Services and Solutions in the Foreign Exchange Market.”

Since its launch in July last year, Hana’s overseas travel service platform “Travlog” has attracted 850,000 subscribers and exceeded 220 billion won in currency exchange.

In particular, Hana Bank offered ADB participants a Travlog service where they watched Hana Financial Group’s advertising model and world-class Korean footballer Son Heung-min play in London at the pavilion.

The Travlog service made them feel as if they were watching Son in a football game in London.

On April 14, Hana Bank signed an agreement with the Korean Ministry of Strategy and Finance to sponsor the ADB Annual Meeting and sponsored or participated in the meeting in various ways, including operating the exhibition booth, creating a networking hub space and providing a luncheon for ADB participants.

Hana Bank’s Rich Children App.

In the meantime, Hana Bank’s financial platform for elementary and middle school students, “Rich Children App,” has surpassed one million subscribers.

The app was launched in June 2021 and is the first financial Parent Tech service in Korea. Parents and their Generation Z children install the app on their respective mobile phones, allowing the children to conduct their own financial management activities with allowances they receive from their parents.

Over the past year period, the number of children receiving pocket money through Rich Children App increased by about three times and the average number of monthly payments made through Rich Children Card and Zero Pay has increased by about four times.

In addition, the number of cumulative transactions ascended to 7.23 million, with a cumulative transaction amount of 23.5 billion won.

Rich Children Card, a prepaid card exclusively for payments on Rich Children App, helps users experience responsible and planned use of their saved allowances. Like the Rich Children App, child members can apply for the Rich Children Card through mobile phone authentication in their parents’ names, even if their parents do not have a Hana Bank account.

A usage limit of 50,000 won per day and 500,000 won per month is applied for Rich Children Card users under the age of 14. Use in harmful industries is restricted.

Rich Children Card can be used as a T-money transportation card and an ATM deposit and withdrawal card. The card also offers mobile and online payment functions to adapt to the consumption patterns of Generation Z.

A recent analysis of the usage patterns of Rich Children App over the past year showed that about 68 percent of lower-grade elementary school students (eight to ten years old) receive regular allowances on a weekly basis, and about 45 percent of middle school students on a monthly basis.