Hana Bank Signs Business Agreement for 'Industry, Technology, Logistics, and Finance-Linked B2B Platform' Project

[Asia Economy Reporter Kiho Sung] Hana Bank announced on the 12th that it has signed a business agreement for the 'Industry·Technology·Logistics·Finance Linked Business-to-Business (B2B) Platform (FSCM)' project together with POSCO International (Purchasing & Logistics), POSCO A&C (Industry), Dassault Syst?mes (Technology), and Hyeonggyeong Industry (Manufacturing).

This agreement was prepared to promote the platform business through the systemic convergence of business models across different industries for the first time in Korea, based on the accumulated capabilities and platform business experience of each company. To this end, it was decided to establish and develop a new corporation (OZO Co., Ltd.) and implement the 'OZO Platform' that connects companies and finance.

The ‘OZO Platform’ is expected to assist small and medium-sized enterprises (SMEs) and mid-sized companies that are relatively vulnerable to rapidly changing technological environments. Through the ‘OZO Platform,’ the participating companies will connect (integrate) their digital capabilities and know-how accumulated over decades to provide all the essential core technologies required by each industry, convenient and efficient purchasing and payment systems, and the necessary financial infrastructure within the process. To this end, they agreed to actively cooperate to make it a comprehensive system that supports the completion of the ecosystem within the platform.

Jihwan Park, Vice President of Hana Bank’s Corporate Investment Banking (CIB) Group, stated, “Hana Bank will break away from the traditional financial service methods centered on banks and actively support individual companies to complete their supply chains within the platform by providing customized technology and finance through collaboration between finance and industry.”

Vice President Park added, “As the first support project, we plan to link a payment system for purchase payment and provide purchase funds to companies using the ‘OZO Platform,’ as well as connect a win-win payment system to improve the liquidity of subcontracted small and micro enterprises.”

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