[Asia Economy Reporter Kiho Sung] Hana Bank China Limited announced on the 13th that it signed a business agreement with Golfzon China at the Golfzon China headquarters located in Beijing, China, to support the overseas expansion of South Korea's indoor golf culture and the spread of K-finance to China, as well as to support local franchise stores in China.
The business agreement signed on the 11th aims for "hohyehori, hapjakgongyeong (互惠互利, 合作共?: mutual benefit and cooperation for win-win growth)" and was established to deepen Hana Bank China Limited's localization strategy in China and to expand Golfzon China's franchise business targeting local customers in China.
The company will launch a locally specialized loan product that supports the purchase of new screen golf machines to ensure the successful establishment of Golfzon China franchise stores. Through this loan product, franchise stores can receive liquidity support for up to 2 years and up to 3 million yuan per business (approximately 500 million KRW).
Lim Young-ho, CEO of Hana Bank China Limited, stated, “Through this agreement, we plan to carry out activities for the mutual growth of both companies in China,” adding, “We will continue to support the successful business of Korean companies entering China and demonstrate innovative models of K-finance by developing various financial products to practice coexistence with Chinese companies and local customers.”
Meanwhile, Hana Bank China Limited partnered with Alibaba’s Ant Group, China’s largest e-commerce company, last November and opened a mobile branch called ‘Hana Xiaochengxu,’ operating a platform that allows subscription to locally specialized financial products via mobile.
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