Emphasis at the Group Executive Meeting
Ham Young-joo, Chairman of Hana Financial Group, presented four key action plans for ‘co-prosperity finance’ in financial companies, including strengthening internal controls, on the occasion of his first anniversary in office.
Hana Financial announced on the 27th that Chairman Ham, marking his first year in office, urged the practice of ‘social responsibility of finance’ for co-prosperity during a group executive meeting attended by executives from the group and its affiliates, and presented four action plans.
The four action plans proposed by Chairman Ham are ▲restoring trust as the foundation for co-prosperity finance ▲active and sincere practice of social responsibility ▲expanding cooperation and nurturing talent through digital innovation ▲strengthening internal controls to enhance management transparency and reliability.
Regarding trust restoration, Chairman Ham pointed out, “The reason Silicon Valley Bank (SVB), which has a history of 40 years, went bankrupt in just 36 hours is that it lost the essence of finance, which is trust,” adding, “How the financial industry restores trust from customers and society is the most important task.”
As active social responsibility measures to achieve this, Chairman Ham called for ▲re-examining the interest and fee determination system from the stage of financial product development ▲expanding and accepting exemption claims ▲proactively solving problems through accurate data analysis. He also emphasized expanding various support projects such as funding supply, digital transformation, and business consulting to help the revival and growth of individual entrepreneurs and small and medium-sized enterprises.
He also urged active responses to social issues such as low birth rates and aging. He requested the group’s ‘100th Daycare Center Construction Project’ to solve the low birth rate problem, support for infertility treatment, and the development of customized products and financial support covering the entire life cycle from childbirth to childcare, education, marriage, housing, and silver care.
Regarding digital innovation, Chairman Ham said, “Efforts are needed to grow together with society centered on cooperation with various companies, including startups,” and added, “Please activate talent development programs that will lead future digital finance as well as support growth by sharing Hana Financial’s IT infrastructure and data and creating a mother fund to establish a new private-led investment ecosystem.”
Internal controls will also be significantly strengthened. Chairman Ham emphasized, “We must reflect on ourselves, inspect, and improve to become a transparent and healthy financial company that meets society’s standards,” adding, “We need to specifically check whether the performance reward system is well linked to actual performance, whether responsibility is clearly established to enhance management transparency and reliability, and whether improvements in education and processes from the perspective of internal control are being properly implemented.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
