The Korea Herald

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Hana Financial chief vows to boost corporate value in Hong Kong

By Im Eun-byel

Published : Nov. 17, 2024 - 15:49

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Hana Financial Group Chairman Ham Young-joo (left) and Financial Supervisory Service Gov. Lee Bok-hyun attend a global investor relations event held in Hong Kong, Wednesday. (Hana Financial Group) Hana Financial Group Chairman Ham Young-joo (left) and Financial Supervisory Service Gov. Lee Bok-hyun attend a global investor relations event held in Hong Kong, Wednesday. (Hana Financial Group)

Hana Financial Group's chief pitched the banking group's strategies to elevate its corporate value to overseas investors at an investor relations event in Hong Kong.

Along with the chiefs of other top financial service providers in the country, Hana Financial Chairman Ham Young-joo attended the “Invest K-Finance” event, hosted by South Korea's Financial Supervisory Service. At the event, Ham introduced the group’s plan to boost corporate and shareholder value, according to the firm on Friday.

Hana Financial's corporate value-up plan, rolled out last month, involves raising shareholder returns to 50 percent by 2027 through improved earnings per share and greater dividends, while maintaining its return on equity at over 10 percent.

"Shareholder return that meets the market expectation is only possible if it is backed by sustainable profitability. The key to the value-up plan is a thorough evaluation of the current condition and practical fulfillment plan," Ham said.

"The group will pursue shareholder return measures that meet the global standard through securing sustainable profitability.”

At the event, Ham separately met with analysts and portfolio managers of global asset managers, which have been long-term investors of Hana Financial. FSS Gov. Lee participated in the meetings as well, introducing the country's efforts to boost the corporate value of banking groups.

"We are working to provide a predictable and reasonable regulatory environment to boost the credibility of Korea's financial market," Lee said. "The loss-absorbing capacity of the domestic financial industry is sufficient. The regulators are working to shape up the regulatory environment to enable capital policies that meet the global standard."

The event was followed by a panel discussion, focusing on the changing demographics of Korea and how financial firms would respond to an aging population. At the discussion, Hana Financial introduced its Hana The Next brand, an integrated line of services for senior customers that was launched last month.