Home > Business > Finance

Hana becomes 1st financial institution in country to establish consumer protection committee within board of directors

Published: 26 Oct. 2025, 15:41 Updated: 26 Oct. 2025, 20:17

KIM MIN-YOUNG
[email protected]

Promotional image for Hana Bank's new consumer protection committee [HANA FINANCIAL GROUP]

Hana Financial Group announced on Sunday that it will become the first financial institution in Korea to establish a consumer protection committee within its board of directors, strengthening its oversight of consumer-related policies and governance.

The new committee will expand on Hana’s current consumer risk management committee's functions. It will directly review and supervise consumer protection policies and performance at the board level — the company’s top decision-making body.

Hana said the move is part of a broader effort to improve consumer protection across the organization. The group has been pursuing several initiatives through its economic growth strategy task force, such as focusing on supporting firms affected by tariffs, promoting inclusive and productive finance, strengthening consumer protection, advancing digital finance and expanding wealth management services for the public.

The new committee is expected to launch after revisions to Hana’s internal governance rules, as well as formal approval of related changes to the group's articles of incorporation at next year's annual shareholder meeting.

“With an integrated consumer protection governance system, Hana Financial Group will overhaul its regulations and processes related to consumer protection and set a new benchmark for the industry,” said Chairman Ham Young-joo. “We will continue to build long-term trust with our customers, shareholders, employees and society.”

BY KIM MIN-YOUNG [[email protected]]