Jisung Kyu, Hana Bank President, Announces Personally Written Pledge to "Actively Practice Consumer Protection"

The Banking Sector's First Introduction of the 'Product Understanding Obligation System'

Jisung Kyu, CEO of Hana Bank, pledged to actively practice 'financial consumer protection' centered on consumers during the financial consumer protection commitment event held non-face-to-face on the afternoon of the 22nd.

[Asia Economy Reporter Kiho Sung] Jiseong Kyu, CEO of Hana Bank, has declared the strengthening of consumer protection by shifting all operations to be consumer-centered.

On the 22nd, during a non-face-to-face Financial Consumer Protection Commitment event, CEO Ji stated, "We will continuously establish systems for consumer convenience and eliminate inconveniences to practice effective consumer protection," and announced the Consumer Protection Commitment Statement. He personally wrote and announced the statement to all employees, emphasizing once again that financial consumer protection is a core value and pledging to realize true consumer protection.

As part of this, Hana Bank will introduce the ‘Product Familiarity Obligation System’ for the first time in the banking sector in preparation for the Financial Consumer Protection Act (FCPA) to be implemented in March. When selling new financial products, the completion of employee training will be thoroughly verified, and only employees who are familiar with the product details will be allowed to sell the products to financial consumers.

With the introduction of this system, the ‘Product Familiarity Obligation System’ will apply to all financial products of Hana Bank, enabling financial consumers to receive more accurate explanations and services regarding financial products. Through this, Hana Bank plans to lead finance with a high level of expertise.

CEO Ji stated, "At the beginning of this year, we established the Consumer Risk Management Group for the first time in the banking sector through organizational restructuring," and added, "Through this, we plan to support optimal asset portfolios."