Hana Securities to Establish Foreign Investment Solution Team

Hana Securities announced on Feb. 1 that it is establishing a foreign investment solution team to expand its customer base to non-resident foreigners.

Last year, the foreign investor registration system, which had been criticized as one of the obstacles for foreign investors in domestic investments, was abolished. Without the need for pre-registration or the issuance of an investment registration number, or foreigner ID, foreign corporations can now open brokerage accounts using the Legal Entity Identifier (LEI), while individuals can do so with just their passports. Moreover, the reporting frequency for the integrated account holder names of foreign securities firms has been relaxed, significantly improving the accessibility of foreign investors to domestic investments.

Hana Securities plans to enhance the deposit and withdrawal foreign exchange process and establish the foreign investment solution team to proactively respond to market changes and expand its customer base. The company is also improving the investment process for non-resident foreign clients and building a foreigner integrated account system in phases. Additionally, collaboration with relevant departments within the group will be strengthened as part of its strategy.

A representative from Hana Securities stated, “With the abolition of the foreign investor registration system that has been in place for over 30 years, it is expected that the domestic investment activities of foreign investors will become more active. In line with the regulatory improvements, we will make every effort to create a culture where non-resident foreign investors can easily invest by implementing internal process and system enhancements.”