Hana Financial Group, SK Telecom, SK Square partner on digital finance

Finance

Published: 20 Nov. 2022, 16:41

Hana Financial Group, SK Telecom, SK Square partner on digital finance

Hana Financial Group Chairman Ham Young-joo, fifth from left in the front row, and SK Telecom CEO Ryu Young-sang, fourth from left in the front row, pose for a photo at the Hana Financial Group office in central Seoul on Nov. 18. [HANA FINANCIAL GROUP]

Hana Financial Group partnered with SK Telecom and SK Square to cooperate on digital financial innovation.

Hana announced Sunday that the three companies will cooperate on a number of projects, which includes the creation of jobs for young people and support for the self-employed. To discover new growth engines, they are planning a joint investment in web 3.0 and in securing technologies for artificial intelligence and big data.

Web 3.0, also known as the third-generation internet, is the concept of the next generation of the web in which most users will be connected via a decentralized network.

The Sunday announcement is the first outcome of the strategic partnership signed between Hana and SK Telecom in July.

“Hana Financial Group and SK Telecom took the first step toward innovating digital finance,” said Ham Young-joo in a statement.

The companies also plan to roll out a products based on the customer data they have collected. Hana said it will sophisticate the credit rating system and roll out card products with SK Telecom.

BY JIN MIN-JI [jin.minji@joongang.co.kr]