September 08, 2024

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Hana Financial Group Chairman and CEO Ham Young-joo speaks at an investor relations event held in Hong Kong, Tuesday. (Hana Financial Group)

Hana Financial Group Chairman and CEO Ham Young-joo met with overseas investors in Hong Kong through a two-day event to promote the banking group's strategies to elevate its corporate and shareholder values, the firm said Wednesday.

At the event which took place Monday and Tuesday, Ham stressed how the market value of the financial group has increased after the announcement of the capital management and shareholder return plan in early 2023. It was the first global investor relations event for Ham to attend this year.

Ham also introduced the group’s visions and mid- and long-term plan to increase profitability, and highlighted its sound asset quality to global investors, sharing how the banking group can enhance its shareholder values in line with the Korean government’s “corporate value-up program.”

The government measures released in February involve increasing shareholder returns of listed companies to boost Korea's undervalued stock market. Following the announcement, local banking shares saw a boost in their prices as they were evaluated to be some of the most undervalued shares on the market.

For instance, Hana Financial’s share price stood at 58,400 won ($42.25) as of closing Tuesday, marking around a 35 percent rise from 43,400 won on Dec. 28. In the same period, shares of other major finance groups in Korea saw a price surge between 7 to 45 percent, significantly higher than the 3.3 percent average increase of the country's benchmark Kospi.

"Hana's efforts to strengthen corporate worth for the value-up of the Korean finance industry is not an event that will wrap up in a short period, but a long-term plan that will continue," Ham said.

"I will continue to proactively communicate with global investors for Hana Financial to lead the value-up of Korea's banking shares," he said.

Following the investor relations event in Hong Kong, Ham is to visit Sydney for one-on-one meetings with institutional investors to respond to the growing interest in the banking shares sparked by the corporate value-up program, the firm said.

“We are enhancing communication with foreign investors for them to trust in the growth and development of Hana Financial,” an official from the group said, adding that overseas investors take up around a 70 percent stake in the firm.

“We will continue to engage in communication on the ground to promote the excellence of the finance sector of Korea.”

The firm added it has recently incorporated video features to its quarterly conference calls, previously available only in audio, to strengthen communication with its investors.

By Im Eun-byel (silverstar@heraldcorp.com)