South Korea’s Hana Bank seeks to strengthen its footprint in Europe by establishing a presence in Poland and joining hands with London-based StoneX Financial. Photo courtesy of Hana Bank
SEOUL, Sept. 29 (UPI) -- South Korea's Hana Bank expanding its presence in the European market by partnering with StoneX's British subsidiary and establishing a new base in Poland.
The Seoul-based lender confirmed Monday that it has entered into a correspondent banking relationship with London-based StoneX Financial.
Under the agreement, Hana Bank will take advantage of StoneX's cross-border foreign exchange payment platform to enhance its ability to deliver foreign exchange and remittance services for international corporate clients.
"With our foreign exchange expertise, it's great to not only contribute to StoneX's Korean won payment capabilities, but also to align with the Korean government's intent to open up the foreign exchange market with extended operation hours for Korean won transaction facilitation," Hana Bank London deputy general manager Lee Chi-woo said in a statement.
