Hana set to make leap forward under leadership of new chairman

Hana Financial Group's chairman nominee Ham Young-joo / Courtesy of Hana Financial Group

By Lee Min-hyung

Hana Financial Group is highly expected to make a leap forward under the leadership of its new chairman, Ham Young-joo, who was nominated for the position Tuesday evening.

Renowned as a self-made man, Ham will officially take the helm of the group for a three-year term upon confirmation by shareholders and board of directors in their respective meetings next month. He will replace Kim Jung-tae whose decade-long term as chairman will end on March 25.

Ham has previously taken on key positions in the group and its banking arm. He led Hana Bank for four years from 2015 to 2019, during which he proved his management skills.

The lender set a record with its 2 trillion won net profit under Ham's stable and solid management.

The 66-year-old chairman nominee was considered the strongest candidate for the position even before the company's announcement on Tuesday.

While leading Hana Bank, Ham has also carried out dual roles as the group's vice chairman since 2016. He is currently mapping out the group's overall environmental, social and corporate governance (ESG) strategies amid growing emphasis on transparent and sustainable management here and abroad.

The group's chairman recommendation committee spoke highly of his strong communication skills demonstrated when he was the leader of the bank, expecting him to improve office culture for its sustainable growth.

Ham is widely known for his sales expertise. When he was chief of the lender's sales unit in North and South Chungcheong provinces, he ranked first in sales performance.

Considering his presence as the group's deputy leader after having been promoted to the vice chairman post back in 2016, few doubt his management capability within the group. He was the longest-serving vice chairman among his rivals ― including Hana Financial Group Vice Chairman Ji Sung-kyoo and Hana Bank CEO Park Sung-ho ― all of whom have been mentioned frequently as possible candidates for the position of the group's next chairman.

Hana Financial Group headquarters in Seoul / Courtesy of Hana Financial Group

He also displayed strong risk management skills while attending the National Assembly's annual audits. Before Chairman Kim succeeded in 2021 in extending his tenure for one more year, Ham was also included on the shortlist of chairman candidates.

“Ham is a proven leader within financial circles here, as shown in his decades-long experience,” a financial industry source said. “Expectations are Hana will be able to expand its winning streak in earnings and a series of other key indexes under his leadership.”

Ham is expected to place a top priority on enhancing the group's digital drive under the vision of “Beyond Finance.” The group shared the slogan with a view to establishing itself as a data-driven financial information firm.

In June 2017, Hana Financial Group opened its converged data center in Incheon's Cheongna International City. The year after, it unveiled its group-wide digital vision and expressed its determination to become a customer-oriented, data-powered financial company.

The group is expanding its ties with research organizations, as part of efforts to find fresh revenue areas in the digital sector. Hana has formed strategic alliances with the nation's top research-oriented universities, such as the Korea Advanced Institute of Science and Technology (KAIST) and Pohang University of Science and Technology (POSTECH).

“We will continue widening partnerships with research organizations and digital firms, so we can find new growth engines in the digital and financial sectors,” an official from the group said.

Hana Financial Group is scheduled to release its 2021 earnings report on Thursday. The lender is widely expected to have set an earnings record last year, with its net profit reaching a new high of 2.68 trillion won during the first three quarters combined.