LOS ANGELES (Yonhap) -- Hana Financial Group Inc., Korea's No. 4 banking group, said Saturday that it is pushing to acquire a Korean American commercial bank in the United States as part of its bid to accelerate expansion abroad.
The move comes as Hana Financial Group seeks to boost overseas revenue by taking over the Korea Exchange Bank (KEB), Korea's No. 5 lender, in one of the biggest banking deals in South Korean history.
"We are eying (targets) on the East and West coasts where a large number of overseas Koreans reside," Yun Yong-ro, vice chairman who oversees Hana's businesses, told reporters during his visit to the U.S. city.
"We are ready to start talks with any banks," Yun added, declining to give further details.
Hana Financial Group, which has Korea's No. 4 lender Hana Bank under its wing, is awaiting regulatory approval from the U.S. and Hong Kong to finalize the pending purchase of KEB.
Last month, Hana secured approval from the South Korean regulator to buy a major stake in KEB from Lone Star Funds in a deal worth 3.9 trillion won ($3.5 billion).
The KEB deal will allow Hana Financial, which has been largely focused on domestic business, to take control of the largest overseas network run by a Korean lender.