Hana Bank is setting up a new business base in the Subic Bay Freeport Zone in the Philippines and speeding up its push into the Southeast Asian market.

Hana Bank said on June 7 that it opened the 'Philippines Subic representative office' on June 5 local time to strengthen its sales network in Southeast Asia.

The opening ceremony was attended by officials from major local institutions including the South Korean embassy in the Philippines and KOTRA, as well as the head of HD Hyundai Heavy Industries' Philippine unit and officials from SBMA, the authority overseeing the Subic Bay Freeport Zone.

Subic is a special economic zone about 100 km northwest of Manila, the Philippine capital. It is home to HD Hyundai Heavy Industries' Philippine unit. The company revamped production facilities at the Subic shipyard and began full-scale shipbuilding in the second half of 2025.

Hana Bank plans to respond to HD Hyundai Heavy Industries' financing needs through the opening of the Subic office and strengthen support for financial services for South Korean companies and expatriates in the area.

It also plans to expand financial services to the nearby Clark area to broaden its business network in the Philippines.

Kim Young-jun (김영준), deputy head of Hana Bank's Global Group, said this was part of a mid- to long-term growth strategy for key Southeast Asian markets and that the bank would provide close-knit financial services to South Korean companies and expatriates operating locally, as well as local customers.