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Finance

Hana Financial keeps CEOs at major units, replaces Hana F&I head

Hana Financial Group on Wednesday recommended CEO candidates for seven major affiliates, including Hana Securities and Hana Life Insurance. The group said it prioritised stable growth and strengthening non-bank portfolio competitiveness. Most current CEOs were nominated for another term, including those at Hana Asset Trust, Hana Alternative Asset Management, Hana Financial TI and Hana Insurance. Hana F&I was the only unit with a new nominee, Hana Bank executive Lee Eun-bae. Final selections will be confirmed after affiliate nomination committees, boards and shareholder meetings.

Finance

Shinhan, Hana Securities clear key step to issue short-term notes

South Korea's Financial Services Commission said on Wednesday its Securities and Futures Commission reviewed agenda items to designate Hana Securities and Shinhan Investment Corp as comprehensive financial investment businesses and to grant licences for short-term financing through note issuance. The two firms will be confirmed as note-issuing businesses after approval at a future regular FSC meeting. It is not yet decided whether the agenda will be tabled next week.

Finance

FSC extends phase 2 stress DSR for regional mortgages by six months

South Korea's Financial Services Commission decided to apply phase 2 stress debt service ratio rules to regional mortgage loans through the first half of next year, extending the current treatment to June 30. The move follows the July introduction of phase 3 stress DSR, under which regional mortgages had been exempted for six months. The FSC cited the impact on household debt and conditions in regional property and construction. It will also improve home-price calculations for jeonse loan guarantee reviews, allowing recent appraisal values at a borrower's request from Jan. 2.