Global proxy advisory firm ISS has recommended votes in favour of all agenda items at Hana Financial Group's 2026 annual general meeting.

According to the financial sector on Wednesday, ISS recently recommended shareholders vote in favour of all agenda items to be put to this year's shareholder meeting, including the appointment of outside directors.

Hana Financial has put forward agenda items including a reduction of capital reserves for tax-free dividends, changes to the articles of incorporation to introduce electronic shareholder meetings, the appointment of outside directors Park Dong-moon (박동문), Won Sook-yeon (원숙연), Lee Jun-seo (이준서), Joo Young-sup (주영섭), Lee Jae-sul (이재술), Yoon Shim (윤심), Lee Jae-min (이재민), Seo Young-sook (서영숙) and Choi Hyun-ja (최현자), the appointment of inside directors Lee Seung-yeol (이승열) and Kang Sung-mook (강성묵), and approval of directors' remuneration.

ISS's recommendation in favour of all agenda items, including the reappointment of directors, is seen as reflecting Hana Financial's efforts to improve corporate governance and expand active communication with shareholders.

The Supreme Court's January decision confirming the acquittal of Hana Financial Group Chairman Ham Young-joo (함영주) in connection with a hiring trial is also seen as having influenced ISS's recommendation in favour of the shareholder meeting agenda items.

Criticism has also been raised that ISS recommendations have diverged from actual shareholder views. At the 2025 shareholder meeting, the agenda item to reappoint Ham as chairman passed with a high approval rate of 81.2 percent despite coming before the Supreme Court ruling, and many assessed that there was a significant gap between ISS's recommendation against and the shareholder vote outcome.

Reflecting this trend, ISS recently revised its policy on 'material governance failure (MGF)'.

This means both ISS and Glass Lewis, the two major global proxy advisory firms, have recommended votes in favour of all agenda items at Hana Financial's shareholder meeting.

Given Hana Financial's foreign ownership ratio is about 70 percent, all agenda items are expected to pass at the March shareholder meeting with an approval rate of more than 90 percent.

The market has also assessed that the recent Supreme Court ruling and ISS's favourable recommendation have effectively resolved governance issues that had weighed on Hana Financial for several years.

As a result, Hana Financial is expected to gain momentum in management aimed at securing future growth engines, including strengthening its non-bank portfolio and building a stablecoin ecosystem.