Hana Bank Expands Global Reach with New Office in Subic, Philippines

Hana Bank has opened a new branch in Subic, Philippines, as part of its efforts to expand its presence in the Southeast Asian market.

The bank announced on June 7 that it officially opened the Subic branch on June 5. This move aims to broaden its operations in Southeast Asia and respond to the financial service needs of Korean companies and residents in the area.

Subic is an economic zone located approximately 100 kilometers northwest of Manila, the capital of the Philippines, and is home to HD Hyundai Heavy Industries' Philippine subsidiary. The company has been refurbishing its shipbuilding facilities in Subic and began full-scale ship construction in the second half of last year, aiming to produce up to 10 vessels annually and develop the Subic shipyard as a key production hub in Southeast Asia.

Hana Bank plans to proactively address the financial needs of HD Hyundai Heavy Industries through its new Subic branch. The bank will also support local Korean businesses and provide financial services to the Korean community. Building on its experience from the Manila branch, Hana Bank aims to establish a comprehensive network in the Philippines that includes the financial demands of the nearby Clark area. Hana Bank opened its Manila branch in 1981, becoming the first Korean bank to do so.

With the opening of the Subic branch, Hana Bank now operates 114 networks across 27 regions, the largest number among domestic banks, following the establishment of two branches in India last year. This network supports domestic companies in entering local markets.

Kim Young-jun, Vice President of Hana Bank's Global Group, stated, "The opening of the Subic branch is part of our long-term growth strategy for key markets in Southeast Asia. We aim to provide more tailored financial services not only to Korean companies and residents but also to local customers."