Hana Bank X Seoul Auction Launch Art Banking and Art Services

Combining Art and Asset Management, Branding of 'Artbank'
Art Consultation and Purchase, NFT Art, and Metaverse Joint Business Promotion

[Asia Economy Reporter Sim Nayoung] Hana Bank (CEO Park Seong-ho) announced on the 27th that on the 25th, it signed a business agreement with Seoul Auction (CEO Lee Ok-kyung) at the Hana Bank Arete Cube Gold Club to provide differentiated art banking and art services for customers of both companies.

Through the agreement with Seoul Auction, Hana Bank plans to combine art with asset management to imprint and brand a differentiated 'Art Bank' image for its customers, distinct from other financial institutions.

Seoul Auction, which signed this agreement, was established in 1998 as the first art auction company in Korea. It conducts auctions domestically and in Hong Kong and recorded a total winning bid amount of 167 billion KRW last year, making it the number one company in the domestic auction market share.

Through this agreement, the two companies will promote business partnerships and joint projects in various fields, including ▲ art sales and related business transactions ▲ art market collection consulting ▲ art-backed loans and other traditional art-related services, as well as ▲ discovering new art-related businesses such as NFTs and metaverse platforms ▲ art-related education and community operations.

Hana Bank will provide art consulting and purchase-specialized services to customers interested in buying artworks, and will safely store customers' owned artworks using the bank's vault space, scheduled to open in the first half of the year, as well as exhibit customers' owned works.

Additionally, Hana Bank plans to operate an online-offline community that provides systematic art services such as art exhibitions and art culture education for customers interested in art, utilizing the Club1 PB Center space, a premium asset management brand.

Park Seong-ho, CEO of Hana Bank, stated, "Through the business agreement with Seoul Auction, which leads the domestic art market, it has become possible to provide differentiated art services from other financial institutions," and added, "Hana Bank will advance as an Art Bank that offers differentiated customized art services for all customers, from asset owners to the MZ generation, beyond finance."

In 2020, Hana Bank became the first financial institution to open the 'Arete Cube Gold Club' within the Seoul Auction Gangnam Center, providing art funds and consulting services that combine art and finance for high-net-worth individuals and art collectors. It also offers various complex services as a family office, including cultural and artistic education services for the children of high-net-worth individuals.

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