Hana Financial Group said Sunday that it will become the first financial group in South Korea to establish a “Consumer Protection Committee” within its board of directors and implement a groupwide consumer protection governance system.
This reorganization aims to ensure that financial consumer protection is managed directly by the group’s top decision-making body, positioning it as a core value and competitive strength beyond simple legal compliance or risk management.
The existing Consumer Risk Management Committee will be expanded into the new Consumer Protection Committee. The new committee is scheduled to be launched following revisions to the group’s governance regulations and formal approval at the 2026 annual shareholders’ meeting.
To ensure consistent implementation of consumer protection strategies across the organization, Hana will also introduce a “Group Consumer Protection Governance” framework that extends from the holding company to all subsidiaries.
Through this new governance structure, Hana aims to strengthen its ability to identify and respond to emerging consumer risks in a rapidly evolving financial environment, including the spread of artificial intelligence technologies and the expansion of the virtual asset market.
The group also plans to introduce an Integrated Internal Control Management System to monitor and manage consumer protection activities across the organization.
By embedding consumer protection principles throughout every stage of the financial product cycle, from development and review to sales and post-management, Hana seeks to prevent potential consumer harm and enhance customer confidence.
“We will achieve a comprehensive overhaul of our systems through the establishment of integrated consumer protection governance and set a new benchmark for fostering a culture of consumer protection in the financial industry,” Chairman Ham Young-joo said.
andreahaneu@heraldcorp.com
