Hana Securities is launching a commercial paper business to drive a shift to productive finance by expanding the supply of venture capital and supporting the domestic industrial ecosystem.
Hana Securities said on the 9th it launched its first commercial paper product, Hana THE Commercial Paper. The product is a bill with a maturity of up to one year issued directly by Hana Securities and pays principal and interest according to the agreed yield.
Hana THE Commercial Paper comes in two types: on-demand and contracted. For retail customers, the on-demand type offers a pre-tax annual rate of 2.4%. The minimum subscription is 1 million won.
It is also selling a special contracted-rate offering. The special offering targets new customers and retail customers who have had no transactions for six months or longer, and applies an annual rate of 3.4%–3.6% depending on the contract term. The issuance cap is 120 billion won, and sales will end early when the cap is reached.
The day before, to mark the debut of its first product, Hana Securities held a ceremony at THE Centerfield W, one of its key flagship branches. About 40 people attended, including Ham Young-joo, chairman of Hana Financial Group; Hwang Sung-yeop, chairman of the Korea Financial Investment Association; Lee Byung-seon, head of the Jeju Center for Creative Economy and Innovation; Lee Yong-gwan, CEO of Bluepointpartners; and Kang Sung-mook, CEO of Hana Securities. Hwang is expected to be listed as the first subscriber to Hana Securities' commercial paper.
At the event, Ham Young-joo, chairman of Hana Financial Group, said, "Hana Financial Group is taking companywide action to fulfill its role as an active participant in productive finance," and added, "Hana Securities' commercial paper goes beyond a simple financial product to create a virtuous cycle in finance by expanding the supply of venture capital and will serve as a foundation for Korea's economic re-leap."
Hana Securities plans to actively invest the funds raised through this commercial paper in venture capital. It will support small and medium-sized companies in their growth stage primarily through equity investment, and for mid-sized companies that have entered a stable phase, it will continue supplying funds in ways tailored to each stage of corporate growth, including corporate bond underwriting and credit facilities.
Kang Sung-mook, CEO of Hana Securities, said, "Building on stable funding and our accumulated investment and screening capabilities, we will continue to expand the role of productive finance that supports corporate growth and strengthens industrial competitiveness."