Chairman of Hana Financial Group: Stablecoins may become a new growth engine

In his New Year's address, Ham Young-joo, Chairman and CEO of Hana Financial Group, stated that with the accelerating pace of technology-driven changes in the financial structure, funds are flowing from traditional banking systems to emerging sectors, and stablecoins are expected to become a significant growth driver for the group in the future. Ham pointed out that the group needs to proactively build a complete digital asset ecosystem encompassing issuance, distribution, use, and circulation, rather than merely competing within the existing framework. Ham also noted that given the ongoing political debate surrounding the inclusion of digital assets in the regulatory framework, the actual impact of stablecoins is difficult to accurately assess. However, the group still needs to undertake fundamental innovations in advance and establish a distribution network for wider stablecoin adoption through cross-industry and cross-regional cooperation. Furthermore, he emphasized the need to reduce reliance on traditional banking services and accelerate expansion into non-banking businesses to address the structural transformation of the financial system brought about by the development of artificial intelligence and changes in capital flow patterns. Ham also warned that scale and past success alone are insufficient to guarantee long-term survival. The group needs to systematically restructure its investment banking, risk management, and corporate credit assessment, overcome internal inertia, and seek new growth opportunities with greater urgency. (Korea Herald)