Accompanying the Value of Being One with the Environment

Support the transition to
a low carbon economy

2020 HANA FINANCIAL Group
Sustainability Report

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Create social value
through finance

Reinforce consumer protection and
improve access to finance

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Create social value
through finance
Reinforce consumer protection and
improve access to finance

As of 2021, in principle, apply the Financial Consumer Protection Act (6 major sales regulations) to all financial instruments,
and expand the loan/savings and deposit support for the financially underprivileged

1 Reinforce the protection of financial consumers

  • Six major principles
    Application
  • Suitability principle
    (with seller recommendation)
    Classify customers as ‘general financial consumer’ or ‘specialized financial consumer’, and prohibit the recommendation of unsuitable financial products
  • Suitability principle
    (without seller recommendation)
    If a ‘general financial consumer’ selects unsuitable financial products, notify the customer of such a fact
  • Duty of explanation
    When recommending a product or upon request by customer, provide explanation of key information
  • Prohibition of
    unfair sales practices
    Prohibit unfair requests (imposition of interim repayment fees, requests for personal joint surety, etc.)
    by seller in superior bargaining position
  • Prohibition of undue recommendation
    Prohibit providing conclusive judgment on uncertain matters, etc.
  • Advertising regulation
    Prohibit presenting exaggerated information (expected rate of return) in advertisements, etc.
  • ※ Implementation plan
  • A. Apply the six major principles in accordance with the enactment and enforcement of the Financial Consumer Protection Act
  • B. Include the presentation and deliberation of key information relating to the protection of financial consumers in board meeting agenda
  • C. Appoint a Chief Consumer Officer (CCO) and establish a dedicated organization
  • D. Conduct consumer impact assessment for all financial instruments, and systematically monitor and provide information after sales

2 Expand savings and loans services to financially underserved populations

Expand savings and loans services to financially underserved populations

  • Loans
    Spore for New Hope
    Changing Dream Loan
    Connecting Stone
    Mid-Interest Rate Loan
    Sunshine Loan 17
    Easy Save Loan
  • Savings & deposit
    Hana Smile Dream Savings
    Passbook of Growth for Hope
    Passbook of Growth for Hope Ⅱ
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