Hana Bank has set up a dedicated organisation to provide specialised support for foreign exchange capital transactions such as foreign direct investment (FDI), overseas investment and emigration.

Hana Bank said on Aug. 12 it opened a "Foreign Exchange Capital Transaction Center" in Samseong-dong, Seoul's Gangnam district, on Aug. 11.

The center is a foreign exchange-focused organisation set up to meet financial needs related to foreign exchange capital transactions, including foreign direct investment, overseas direct investment and acquisition of overseas securities, as well as emigration.

Hana Bank has assigned specialists in foreign exchange capital transactions in the Gangnam area, where major law firms, accounting firms, companies and wealthy individuals are concentrated. It plans to support clients by linking services such as consulting, reporting and fundraising for complex foreign exchange transactions through cooperation with major law and accounting firms.

The center will provide services including foreign direct investment reporting and opening foreign currency accounts, consulting on foreign exchange reporting related to domestic and overseas investments and real estate acquisitions, foreign currency funding and advice on cross-border capital transactions.

It will also run financial services for emigrants and overseas Koreans returning to South Korea. The bank plans to support related tasks from remittances for emigration expenses and acquisition of overseas assets, and foreign exchange reporting to settlement of funds after returning home.

Hana Bank plans to strengthen cooperation with external specialist institutions, including legal and tax advisers, related to foreign exchange capital transactions, centered on the new hub.

Hana Bank CEO Ho-seong Lee (이호성) said, "Through the Foreign Exchange Capital Transaction Center, we will provide faster and more specialised financial solutions for complex foreign exchange transactions." He added, "We will establish ourselves as the foreign exchange specialist bank that customers trust the most."