(C) Hana Financial Group
Hana Financial Group is set to carry out a large-scale capital increase for its U.S. subsidiary, Hana Bank USA, for the first time in three years. This move aims to proactively address the growing financial demands of individual and corporate clients in the United States and establish the U.S. market as a next-generation global hub.
According to financial industry sources on the 18th, Hana Bank plans to inject $100 million into Hana Bank USA on December 23rd. This marks the third capital increase for the subsidiary, following injections in 2016 and 2022. With this move, the lending limit per customer will double from $16 million to $32 million, significantly bolstering its capacity to provide loans.
The group also plans to revamp retail services for the Korean-American community. Moving beyond mortgage loans primarily for rental businesses, Hana Bank USA will introduce "Home Mortgage Loans" for individual customers next year. Digital services, including non-face-to-face account opening and mobile international remittances, will also be launched.
The expansion is timed to coincide with an expected surge in financial demand from South Korean companies investing in the U.S. Under the Korea-U.S. tariff negotiations, a $350 billion investment plan is slated to begin next year. Hana Financial is also considering expanding its network to areas like Texas, following the recent opening of a Los Angeles branch.
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