Hana Bank said on Tuesday it signed a business agreement with Jeju Special Self-Governing Province to build a public-private cooperative base for attracting companies.

The agreement was designed to support the stable settlement of companies that want to relocate to Jeju by using Hana Bank's financial infrastructure and to promote investment attraction. The two organisations plan to strengthen regional economic competitiveness through public-private cooperation, including identifying strong companies and sharing information.

Under the agreement, Hana Bank will provide firms seeking to relocate to Jeju with free temporary office space, business consultations and investor relations briefings, and venues for workshops and seminars.

It also plans to offer comprehensive support spanning financial and non-financial areas, including company-specific financial services, links to non-financial services such as management, tax, investment and ESG, and information on policy funds, investment funds and subsidies.

Jeju Special Self-Governing Province will pursue measures including identifying and supporting the growth of companies relocating to or being attracted to Jeju, running joint business consulting, linking tailored financial and non-financial services, and network cooperation to promote corporate attraction and investment.

Lee Ho-sung (이호성), chief executive of Hana Bank, said the agreement was a first step to strengthen the self-sustaining capacity of Jeju's economy. He said the bank would continue to actively identify and foster promising companies seeking to relocate to the province and serve as a reliable financial partner so they can become a new growth engine for Jeju's economy.