Hana Bank, Jeju Province Sign Deal to Attract and Support Relocating Companies

Hana Bank said Wednesday it signed a memorandum of understanding with Jeju Special Self-Governing Province to build a public-private base for attracting companies to the island.

The agreement is aimed at helping companies that want to relocate to Jeju settle in and at boosting investment by using the bank’s financial infrastructure. The two sides said they will work together to identify strong companies, share information and strengthen regional economic competitiveness.

Hana Bank said it will provide relocating companies with temporary office space, business consultations and investor briefings, and venues for workshops and seminars, free of charge. It also plans to offer company-tailored financial services and connect firms with nonfinancial support such as management, tax and investment services, along with information on policy funds, investment funds and subsidies.

Jeju Province said it will pursue efforts to find and support companies moving to Jeju, run joint business consulting, link customized financial and nonfinancial services, and cooperate on networks to promote corporate attraction and investment.

Hana Bank CEO Lee Ho-seong called the agreement “a first step toward our shared goal of strengthening Jeju’s economic self-reliance.” He said the bank will work with the province to identify and nurture promising companies seeking to move to Jeju and serve as a “reliable financial partner” to help them become a new growth engine for the local economy.