Hana launches corporate body in Mexico

KEB Hana Bank CEO Ji Sung-kyoo, forth from left, cuts a ribbon with Mexico's Comision Nacional Bancaria y de Valores President Adalberto Palma Gomez, fifth from left, Korean Ambassador to Mexico Kim Sang-il, third from right, and other guests during the opening ceremony for Bank KEB Hana Mexico in Mexico City, May 24. / Courtesy of KEB Hana Bank

By Jhoo Dong-chan

KEB Hana Bank has set up its corporate body in Mexico, a move considered to establish a bridgehead in the lender's advance into the Latin American market.

Mexico is a member state of the North America Free Trade Agreement (NAFTA) and many Korean chip, steel and automakers have already set up their production bases there.

A number of high-ranking bank officials, including CEO Ji Sung-kyoo and the corporate body head Woo Il, were joined by Mexico's financial regulator head Adalberto Palma Gomez in the May 24 ceremony for Bank KEB Hana Mexico.

Ji said Bank KEB Hana Mexico will provide differentiated financial services to help their business while developing a localization strategy to attract Mexican customers.

“KEB Hana Bank has proven its differentiated quality and knowhow in finance,” Ji said.

“Bank KEB Hana Mexico will contribute to both the development of the two countries' financial sector as well as their economic cooperation.”

KEB Hana Bank has been one of the most active players in Korea's banking sector advancing into foreign markets. It has 180 foreign networks in 24 countries as of May.

It shifted its Fukuoka office to a branch level recently while setting up a new branch in Gurugram, India. The bank plans to establish a new branch in Myanmar soon.

Under its global market strategy, KEB Hana Bank said it will expand its presence in all six continents, even those regions where Korean financial firms have no presence, within three years.