Hana Financial Group said on March 15 it signed a memorandum of understanding with UK-based global financial group Standard Chartered to cooperate on global business and digital assets.

The agreement was designed to strengthen global competitiveness and seek new growth opportunities by combining the two sides' overseas networks and financial capabilities to respond to rapid changes in the global financial environment.

Hana Financial Group Chairman Young-joo Ham (함영주) and Standard Chartered Group Chairman Bill Winters (빌 윈터스), along with key executives and staff from both companies, attended the signing ceremony and exchanged views on the direction of cooperation in global financial markets and digital assets.

The two sides agreed to expand cooperation across various areas of global finance, including investment banking, money markets and foreign exchange, based on each company's overseas network. They also discussed ways to create synergies through mutual cooperation in future finance areas such as digital assets.

Ham said a partnership combining the global networks and financial know-how of Hana Financial Group and Standard Chartered Group would be a strong competitive advantage in global finance. He said they would also create synergies in future finance areas including digital assets to build new growth opportunities.

Winters said South Korea is a key hub in Asian financial markets, and cooperation with Hana Financial Group, which is strong in global markets, would be an important milestone for its global network business.