Hana Financial Group Holds Consumer Protection Committee...First Among Domestic Financial Holding Companies

Hana Financial Group announced on May 21 that it has held a "Consumer Protection Committee" meeting, marking the first such event among domestic financial holding companies.

This Consumer Protection Committee was established to proactively identify and address potential consumer inconveniences and risks that may arise at any stage of the financial product sales process, and to build a group-level consumer protection system.

The Consumer Protection Committee includes not only Hana Bank but also major affiliates such as Hana Securities, Hana Card, and Hana Capital, thereby operating an integrated management system for the protection and rights of financial consumers.

At the committee meeting held today, outside director Yoon Sim was appointed as the inaugural chairperson. The meeting also focused on reviewing the group's consumer protection activities in the second half of last year, and on the progress in implementing the "Best Practices for Financial Consumer Protection Governance" announced by the Financial Supervisory Service in September last year. Additionally, under the supervision of Hana Institute of Finance, an educational session for outside directors was conducted under the theme "The First Year of the Paradigm Shift in Financial Consumer Protection."

Going forward, the Consumer Protection Committee will address key tasks such as establishing groupwide consumer protection policies, defining the roles and authority of the Chief Consumer Officer (CCO), reviewing and supporting the internal controls on consumer protection at subsidiaries, and building an integrated groupwide internal control management system for consumer protection. The committee will also operate a consultative body to share best practices in consumer protection activities and complaint prevention for each major affiliate.

Yongju Ham, Chairman of Hana Financial Group, stated, "With the launch of the Consumer Protection Committee—the first among domestic financial holding companies—we have introduced a proactive system focused on preventive consumer protection in finance," adding, "We will continue to focus the group's capabilities on advancing the integrated consumer protection governance system."

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