Hana Securities established a foreign investment solution team and began expanding its customer base to non-resident foreigners.
Last year, the foreign investor registration system, which had been pointed out as one of the obstacles to foreign investment in the country, was abolished.
It is now possible to open a securities company account with only an LEI (Legal Entity Identifier) for foreign corporations and a passport for individuals, without the existing method of pre-registration and issuance of an investment registration number.
In addition, foreign securities companies' consolidated account holder reporting cycle has also been relaxed, greatly improving foreigners' accessibility to domestic investment.
Hana Securities plans to improve the deposit and withdrawal currency exchange process and establish a foreign investment solution team to quickly respond to market changes and expand customers.
We plan to improve the investment process for non-resident foreign guests and establish an integrated account system for foreigners in stages, while also strengthening collaboration with related departments of the group.
Cho Dae-hyeon, head of WM Sales at Hana Securities, said, “With the abolition of the foreign investor registration system that has been in place for over 30 years, domestic investment by foreign investors is also expected to become active.” He added, “Non-resident foreign investors will be encouraged through internal processes and system improvements tailored to the system. “We will do our best to create a culture where investment is easy,” he explained.
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