Hana Financial, Standard Chartered sign deal on global business, digital assets

Hana Financial Group signed an agreement with Standard Chartered to cooperate in global business and digital assets, the Korean financial conglomerate said Sunday.

Under the memorandum of understanding (MOU) signed Friday, the two companies will combine their international networks and expertise to pursue new growth opportunities in global businesses including investment banking, capital markets, and foreign exchange, Hana said.

Hana and the Britain-based Standard Chartered will also cooperate in emerging financial sectors such as digital assets.

“The partnership between Hana Financial Group and Standard Chartered, which combines our extensive global networks and financial expertise, will deliver strong competitiveness in the global financial sector," Hana Financial Group Chairman Ham Young-joo said through the company's press release. "We will also create new growth opportunities by generating synergy in future financial areas, including digital assets.”

Standard Chartered Group CEO Bill Winters, calling Korea a “key hub” in Asia's financial market, said his company's cooperation with Hana marked an important milestone in expanding Standard Chartered's global network business.

The companies signed the MOU at Hana Bank’s headquarters in Jung District, central Seoul, with Ham and Winters attending alongside senior executives from both firms.

The Standard Chartered CEO traveled to Seoul last week to meet with Standard Chartered Bank Korea executives and employees.

Standard Chartered Bank Korea was founded in 1929. Standard Chartered acquired the lender for $3.3 billion in 2005.

BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]