Kyowon Group Partners with Hana Bank... Joint Development of Startup Support and Travel Products

by Choi Donghyeon

Published 27 Apr.2023 08:08(KST)

Officials from Kyowon Group and Hana Bank signed a Memorandum of Understanding (MOU) on the 26th at Kyowon Group headquarters in Jung-gu, Seoul.

Kyowon Group announced on the 27th that it will strengthen its partnership with Hana Bank for business cooperation.

On the previous day, Kyowon Group signed a Memorandum of Understanding (MOU) with Hana Bank at Kyowon Group headquarters in Jung-gu, Seoul, to collaborate on open innovation and jointly pursue business initiatives.

Under the goal of revitalizing the startup ecosystem, both parties will actively cooperate to support the growth of startups in the fintech and financial sectors. Utilizing their respective capabilities, they plan to operate acceleration programs that help early-stage startups grow, foster collaboration between large corporations and startups, and run investment-linked open innovation programs. Additionally, through the joint operation of Kyowon Group’s open innovation hub, the ‘Deep Change Startup Prize,’ they aim to discover competitive startups and lay the groundwork for qualitative growth.

Furthermore, Kyowon Group and Hana Bank will continue their cooperative relationship in discovering convergence services between travel and finance. In response to the increased demand for overseas travel following the COVID-19 endemic phase, they will develop partnership products and services and conduct joint marketing to provide differentiated experiences to customers planning trips. By leveraging both companies’ data capabilities, they intend to maximize synergy across various fields, including discovering new business models based on big data.

A Kyowon Group representative stated, “Through a close partnership with Hana Bank, we will accelerate co-growth with startups and expand joint efforts to secure future growth engines for both companies, including the creation of new businesses.” He added, “Going forward, Kyowon Group plans to actively collaborate with companies across diverse industries and continuously seek business opportunities that can generate synergy.”