Hana Bank opens branch in Poland in push to expand European reach

Hana Bank celebrates the opening of its new branch in Wroclaw, Poland, on Sept. 23. Second from left are: SK IE Technology Vice President Park Byung-chul, Hana Bank CEO Lee Ho-sung and Korean ambassador to Poland Tae Jun-youl. [HANA BANK]

 
Hana Bank opened a branch in Wroclaw, Poland, ramping up its expansion into the European finance market.
 
The new branch held its opening ceremony on Tuesday, attended by Tae Jun-youl, the Korean ambassador to Poland, and Lee Ho-seoung, CEO of Hana Bank, along with Jason Jangha Lee, President of LG Energy Solution Wroclaw and representatives from Hyundai Rotem, SK IE Technology and Hyundai Motor’s Czech branch.
 
 
With the new Polish branch, Hana Bank has established a network of European branches across Britain, Germany, France, the Netherlands, Hungary and the Czech Republic. The Polish branch will focus on local operations in central and eastern Europe in cooperation with the British and German branches, according to Hana Bank.
 
Poland is considered a strategic economic and logistics hub that connects central, eastern and western Europe with a domestic population of around 40 million and stable growth that offers a favorable environment for investment, according to Hana Bank. Hana also hopes to provide its services in foreign exchange, retail banking and corporate finance for the postwar reconstruction of Ukraine.
 
Wroclaw is also home to a significant cluster of Korean battery-related companies, including LG Energy Solution.
 
Hana Bank signed a memorandum of understanding with PKO Bank Polski, Poland’s largest commercial bank by assets and market share, on Monday. Under the agreement, the two banks will collaborate on global business development including mutual support for overseas branches, investment banking, trade finance and foreign exchange services.
 
“It is deeply meaningful to be the first Korean bank to open a branch in Wroclaw, Poland — the largest economy in Eastern Europe,” said Hana Bank CEO Lee. “We aim to become a reliable financial partner to Korean companies operating in or entering Poland, while also contributing to the local financial market.”
 
In August, Hana Financial Group also opened the Hana Bank USA LA branch in Los Angeles as part of its North American expansion with the aim of pursuing a customer-centered localization strategy to expand its global reach.

BY YOON SO-YEON [[email protected]]