"New US Channel in 22 Years, LA Branch"... Hana Financial Group Accelerates Global Expansion

[Financial News] Hana Financial Group opened a new branch in Los Angeles (LA), California, on the 25th (local time) to target the US market.
Eun-Hyung Lee, Vice Chairman of Hana Financial Group, said, "We are pleased to announce the group's new start in LA, where many Koreans have formed a community with dreams and visions," adding, "We will faithfully fulfill our role as a reliable financial partner so that the Korean community and local society in LA can prosper through convenient and innovative financial services for customers, as well as integrated financial solutions combining retail and corporate finance."
■Link with Eastern Base Branch
Hana Bank USA is the local subsidiary of Hana Bank in the United States. It has focused its business capabilities on the eastern US region, including the headquarters, New York branch, and Flushing branch, with a focus on SME loans and retail-centric financial services.
Hana Financial explained that the establishment of the LA branch is an expansion of a new channel in the US for the first time in 22 years. It plans to expand synergy with existing channels by establishing a strategic base branch in the western region.
Hana Financial is the Korean financial institution with the longest history (48 years) in the United States. Hana Bank's New York branch and its local subsidiaries, KEB Hana New York Financial and KEB Hana LA Financial, focus on investment banking (IB), corporate finance, and trade finance. Hana Bank USA is positioning itself as a local community bank, taking charge of the retail sector.
In May, local financial authorities lifted all restrictions applied to Hana Bank USA. This was highly evaluated due to its consistent good performance after turning a profit in the third quarter of 2022. Hana Financial, which has established a new channel, plans to strengthen regionally tailored sales aligned with localization strategies, beyond mere physical channel expansion. Through this, it aims to establish a balanced sales network across the United States.
■'Customer-Centric Management' in the US 
In line with local policy changes, it will also expand financial support for domestic companies entering the US market. It plans to actively cooperate in attracting Korean investments from US companies. Various customized financial services for the local Korean community will also be continuously provided to continue the 'customer-centric management' strategy in the global market.
Meanwhile, Hana Financial, which has entered 26 regions worldwide, plans to open one new branch in Poland and two in India in the second half of this year to expand its overseas network.
mj@fnnews.com Moon-Soo Park, Reporter