KEB Hana Bank to Remove 'KEB' from Its Name

KEB Hana Bank logo.

[Asia Economy Reporter Kim Min-young] KEB Hana Bank is removing 'KEB' from its bank name.

Hana Bank announced on the 31st that starting from the 3rd of next month, the brand name will change from KEB Hana Bank to 'Hana Bank.'

This brand name change comes 4 years and 5 months after the launch of the integrated Hana Bank in September 2015. In KEB Hana Bank, KEB stands for 'Korea Exchange Bank,' symbolizing the merger of the former Hana Bank and Korea Exchange Bank.

A Hana Bank official explained the reason for the name change, saying, "We aim to eliminate customer inconvenience from the customer's perspective and enhance brand value by unifying the group brand under 'Hana.'"

Hana Bank has continuously reviewed the brand name from the customer's perspective through brand-related consulting and customer advisory panels to find the most familiar and convenient brand name to use.

As a result of the review, although most customers recognize the integration with the former Korea Exchange Bank through 'KEB,' they considered the pronunciation difficulty of 'KEB' as 'K-E-B' and the confusion with other banks using English initials.

It was also taken into account that within Hana Financial Group, it was the only brand name not unified. The explanation was that by unifying the company name under the 'Hana' brand, they aimed to foster a sense of belonging among employees and enhance brand competitiveness.

This content was produced with the assistance of AI translation services.