Ham Young-joo eyes non-banking growth, 50% shareholder return
Hana Financial Group Chairman Ham Young-joo has secured his second term as the chief of the financial giant. He is expected to focus on improving the firm's shareholder returns and expanding the group’s non-banking portfolio.
Ham was reappointed as the firm's chief with 81.2 percent support from its shareholders at a meeting that took place at its headquarters in central Seoul, Tuesday, Hana Financial announced shortly after the event.
Ham will serve another three years as the chief of the financial service provider until March 2028.
"I have been given a crucial task by customers and shareholders," Ham said after securing his extended term.
"I will lead the expansion of business (for Hana Financial), along with strengthening the competitiveness for tech innovation and future financing for the group's sustainable growth."
"Furthermore, I will put all efforts into making Hana Financial a group that can lead the market, having unwavering competitiveness backed by customer-focused corporate culture and being able to swiftly respond to market changes and trends."
Hana Financial explained the reappointment shows shareholders' support for Ham based on his strong track record and achievement in enhancing corporate value. With Ham as its chief, the finance firm was able to log an all-time high net income of 3.73 trillion won ($2.5 billion) last year.
Under Ham's continued leadership, Hana Financial plans to double its non-banking profit from last year's 16 percent to 30 percent by 2027. Like its peers, the firm has been working to reduce reliance on its key lending affiliate, KEB Hana Bank. The firm plans to strengthen its brokerage, card and insurance side of the business.
Keeping up with the country's move to boost corporate value, Hana Financial also plans to increase the shareholder return rate to 50 percent in 2027, up from 38 percent in 2024.
Ham was the sole candidate running for the top position, though he was shortlisted for the position along with former Hana Bank CEO Lee Seung-lyul, Hana Securities CEO Kang Seong-muk and two non-Hana figures in December.
The finance group made it possible for Ham to extend his term by revising its internal rule to allow directors to serve past the age of 70. Ham is currently 69.
Ham joined Seoul Bank, a predecessor of Hana Bank, as a teller in 1980. He was appointed CEO of Hana Bank in 2015, following its merger with Korea Exchange Bank. In 2016, he took on double duty as vice chair of the bank’s holding company, Hana Financial Group. He was named the chair of the holding entity in 2022.
silverstar@heraldcorp.com
