Hana Financial Group is pushing ahead with 4 trillion won in project financing to build a Jamsil sports and MICE complex by combining the investment banking capabilities of Hana Securities and Hana Bank.

Hana Financial said on July 30 that Hana Securities and Hana Bank will participate as lead and joint financial arrangers for the Jamsil Sports and MICE Complex Private Investment Project.

The Seoul metropolitan government and Seoul Smart MICE Park, the project operator, signed an implementation agreement on July 28 to move the project forward. Seoul Smart MICE Park is a project operator corporation to be established for the project, with Hanwha's construction division as lead company and construction firms, operators and financial investors participating as shareholders.

Hana Financial formed the 3H consortium with Hanwha's construction division and IPARK Hyundai Development Company and was selected as preferred bidder in December 2021. The implementation agreement was signed about 4 years and 7 months later, putting the project into full swing.

The project is a private investment plan to develop exhibition and convention facilities, a domed baseball stadium, a sports complex, and accommodation, commercial and office facilities on a site of about 350,000 square metres near the Jamsil Sports Complex.

In line with its ONE IB strategy to strengthen collaboration in the group's investment banking business, Hana Financial is moving ahead with financial structuring and PF funding.

Hana Securities will participate as a financial investor in Seoul Smart MICE Park and as the lead financial arranger. Hana Bank will serve as a joint financial arranger, and the two companies have completed forming a group of lenders for financing.

The project will proceed through related procedures, including approval of the implementation plan. Hana Financial plans to provide financial support depending on the stage of the project.

Kang Seong-mook (강성묵), vice chairman of Hana Financial Group, said it was an example of ONE IB collaboration combining the expertise of Hana Securities and Hana Bank. He said the group would support the 추진 of large-scale private investment projects by linking its investment banking capabilities.