SKT-Hana Financial Group, 400 Billion KRW Stock Swap... ICT Financial Innovation

Building AI-Based Financial Services
Supporting Hana Financial Group's Digital Transformation
New Businesses Including Metaverse and MyData

SK Telecom announced on the 24th that it has exchanged shares with Hana Financial Group and signed a strategic partnership for six major collaboration projects. The photo shows SKT CEO Yoo Young-sang and Hana Financial Group Chairman Ham Young-joo attending the partnership signing ceremony. Photo by XXX

[Asia Economy Reporter Cha Min-young] SK Telecom is establishing a close cooperative relationship with Hana Financial Group through a stock swap worth 400 billion KRW. An avatar bank clerk will appear on SKT's metaverse (extended virtual world) platform to provide investment consultations, and credit card products linked to subscription services are expected to be created.

Meeting between SK ICT Family and Hana Financial Group

On the 24th, SK Telecom announced that it has exchanged large-scale shares worth 400 billion KRW with Hana Financial Group and signed a strategic partnership.

SKT sells shares of Hana Card worth 330 billion KRW to Hana Financial Group and purchases shares of Hana Financial Group worth 330 billion KRW. SKT will hold about 3.1% of Hana Financial Group shares (based on the closing price on the 22nd). Hana Card purchases SKT shares worth 68.4 billion KRW and SK Square shares worth 31.6 billion KRW held by SKT. Hana Card, a 100% subsidiary of Hana Financial Group, holds about 0.6% of SK Telecom shares (based on the closing price on July 22) and about 0.5% of SK Square shares.

This partnership signing is significant as it marks an important starting point for cooperation between the SK ICT Family and Hana Financial Group, unlike MOUs that promise cooperation between specific companies or business areas. The two companies will form a synergy council for broad cooperation covering ICT and finance and promote regular meetings.

The two companies signed an MOU promising cooperation in six major areas: ▲digital transformation of finance ▲discovering new business models by combining telecommunications and financial data ▲joint use of both companies' infrastructure ▲digital-based joint marketing ▲fusion of customer-specialized products and services ▲expanding social roles through ESG (environment, social, governance) cooperation.

Avatar Bank Clerk Appears on SKT Metaverse Platform

SK Telecom Metaverse Platform Ifland

First, the two companies will consider building AI-based financial services as part of the digital transformation of finance. They will discuss using AI Contact Center (AICC), AI chatbots for customer response, and providing investment information using AI.

It is also expected to help Hana Financial Group's cloud adoption. SKT can provide cloud solutions optimized for finance using its self-developed container technology. SKT explained that this technology virtualizes software such as apps and services, reducing the time required to launch and modify apps and services.

The two companies will also discuss promoting new businesses by combining metaverse and finance. For example, Hana Financial Group's virtual branch can be established on SKT's metaverse platform to conduct customer consultations through avatars, or Hana Financial Group can assist in building payment services within the metaverse ecosystem. They plan to continue discussions on virtual asset businesses through the synergy council.

The two companies will also discover new business models by combining SKT's non-financial credit information, which has been anonymized, with Hana Financial Group's financial information data. They can develop more sophisticated credit evaluation models by combining data from different industries or cooperate in the MyData business area.

They will also consider jointly using each company's payment systems, online channels, VIP programs, and other infrastructure. They plan to explore cooperation in marketing areas such as joint promotions providing benefits to both companies' customers and data-driven advertising execution.

SK Square Commerce, Media, Security + Financial Product Launch

SK Square will also participate in the cooperation. The three companies are preparing integrated services combining telecommunications, subscriptions, finance, commerce, and media. They are also considering developing new cards and providing preferential interest rate benefits to SKT customers. In addition, launching financial products linked to SKT's subscription platform is possible.

SK Square will also cooperate with Hana Financial Group to introduce new financial convergence products in commerce, media, and security areas. SK Square subsidiaries operating subscription-based ICT services such as 11st, Content Wave, Dreamus Company, SK Shieldus, and One Store are considered Hana Financial Group's affiliate partners.

They will also promote cooperation to build an ESG ecosystem. Through ESG cooperation, the two companies will jointly develop financial products for small business owners or conduct financial education for youth through the metaverse.

SKT President Yoo Young-sang said, “This partnership will be an important starting point for leading customer value innovation by combining the strengths of representative companies in ICT and finance,” adding, “SKT will closely cooperate to enhance customer value and competitiveness of the ICT and financial industry ecosystems, and the two companies will join forces in various ESG activities to further expand positive influence.”

Hana Financial Group Chairman Ham Young-joo said, “Hana Financial Group and SK Telecom, which have led Korea's finance and technology with trust and innovation, have opened a new era of partnership,” and added, “Hana Financial Group will continue to expand the scope of collaboration, including realizing customer value through digital innovation, pursuing innovative value through finance and ICT convergence, and spreading social value through ESG cooperation.”

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