Top court clears Hana chief Ham Young-joo of favoritism in hiring
Published: 29 Jan. 2026, 16:29
Updated: 29 Jan. 2026, 17:22
![Ham Young-joo, chairman of Hana Financial Group, delivers opening remarks during a signing ceremony for a memorandum of understanding among financial institutions to support the success of the National Growth Fund at the Korea Development Bank in Yeouido, western Seoul, on Nov. 17, 2025. [JOINT PRESS CORPS]](https://koreajoongangdaily.joins.com/data/photo/2026/01/29/cf6c3842-f66b-4970-9b12-a172adb8a472.jpg)
Ham Young-joo, chairman of Hana Financial Group, delivers opening remarks during a signing ceremony for a memorandum of understanding among financial institutions to support the success of the National Growth Fund at the Korea Development Bank in Yeouido, western Seoul, on Nov. 17, 2025. [JOINT PRESS CORPS]
Hana Financial Group Chairman Ham Young-joo was found not guilty by the Supreme Court on Thursday on charges of obstructing business over alleged hiring favoritism, clearing the way for him to remain in office at the country’s third-largest banking group.
The top court overturned a lower court ruling that had convicted Ham of obstruction of business and sent that portion of the case back to the Seoul High Court, while upholding a fine for violating employment law related to gender-based hiring practices during his tenure as chief executive of Hana Bank.
The ruling ends years of legal uncertainty surrounding Ham, who secured a second term as chairman last year and is set to remain in office until 2028.
Prosecutors had accused Ham of ordering that a specific applicant be hired in 2015 while serving as chief executive of Hana Bank, allegedly in response to a personal request.
He was also charged with violating equal employment laws for setting recruitment ratios between 2013 and 2016 to favor men over women by four to one.
A district court acquitted Ham of all charges, but an appeals court later reversed that decision. The appeals court sentenced him to six months in prison, suspended for two years, on the obstruction of business charge and imposed a fine of 3 million won ($2,100) for violating the Equal Employment Opportunity and Work-Family Balance Assistance Act.
![Ham Young-joo, chairman of Hana Financial Group, delivers a commemorative address during an event marking the group’s 20th anniversary at its Myeongdong office in Jung District, central Seoul, on Dec. 1, 2025. [HANA FINANCIAL GROUP]](https://koreajoongangdaily.joins.com/data/photo/2026/01/29/788d5a6f-c33c-4238-a273-cd8874401e36.jpg)
Ham Young-joo, chairman of Hana Financial Group, delivers a commemorative address during an event marking the group’s 20th anniversary at its Myeongdong office in Jung District, central Seoul, on Dec. 1, 2025. [HANA FINANCIAL GROUP]
The top court said the appeals court had misapplied legal principles in finding Ham guilty of obstructing business.
"There was no direct evidence that Ham conspired with the head of the human resources department, and the circumstantial evidence cited by the lower court was insufficient to outweigh the credibility of testimony given by hiring department employees," the court said.
The court added that “the appeals court re-evaluated and overturned the trial court’s factual findings despite the absence of any newly revealed objective grounds,” and stressed that “without exceptional circumstances, an appellate court should not lightly overturn a trial court’s findings of fact.”
Had the obstruction conviction been upheld, Ham would have been required to step down. Under Korean law on financial company governance, executives lose eligibility if the final sentence in a court case involves imprisonment. Hana Financial Group's holding company had submitted an emergency succession plan to regulators ahead of the ruling.
![The Hana Bank logo is seen at the bank's headquarters in Jung District, central Seoul, on Feb. 2, 2020. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2026/01/29/d3eacfc5-e83a-4dc8-a8c3-7c98a0e0cef9.jpg)
The Hana Bank logo is seen at the bank's headquarters in Jung District, central Seoul, on Feb. 2, 2020. [NEWS1]
With the legal uncertainties largely removed, investor attention has shifted to Hana Financial Group’s earnings announcement scheduled for Friday, its first major corporate event since the Supreme Court decision. Analysts expect Ham to use the occasion to outline medium- and long-term strategies alongside the results.
Ham has said the group aims to position itself at the center of a rapidly changing digital finance landscape, with a focus on crypto assets. He has outlined plans for Hana Financial Group to develop a closed-loop ecosystem covering the issuance, distribution and use of stablecoins. The group also plans to relocate its headquarters and major affiliates to Cheongna International City in Incheon later this year.
“The group will take the ruling as an opportunity to act with greater humility and focus its capabilities on expanding productive and inclusive finance to support future growth and economic stability," a spokesperson for Hana Financial Group said.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM DA-YOUNG [[email protected]]
with the Korea JoongAng Daily
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