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| Hana Bank CEO Park Sung-ho, left, holds a memorandum of understanding (MOU) with Health Insurance Review and Assessment Service Executive Director Kim Sun-min after signing an MOU for cooperation on practicing environmental, social and corporate governance values at Hana Bank headquarters in central Seoul, Thursday. Courtesy of Hana Bank |
By Yi Whan-woo
Hana Bank has signed a memorandum of understanding with the government-affiliated Health Insurance Review and Assessment Service (HIRA) on its path to expand private-public sector cooperation in the practice of environmental, social and corporate governance (ESG) values in management, the lender announced on Sunday.
Under the deal, Hana Bank will be responsible for HIRA's major banking transactions for the next five years. The lender accordingly will offer relevant financial services aimed at improving the public health care system and social welfare in line with the goals of HIRA that operates under the wing of the Ministry of Health and Welfare.
To enhance ESG-centered management, supports will be made jointly for public medical clinics and the socially-vulnerable in Gangwon Province, the home of the HIRA in the northeastern corner of the country.
The two sides will work on programs for joint prosperity in other rural areas as well as sponsorship for socially responsible businesses that prioritize benefits for society over turning profits.
"We will put our efforts into producing more convenient and diverse benefits in finance for HIRA," said Hana Bank CEO Park Sung-ho during a signing ceremony with HIRA Executive Director Kim Sun-min at the lender's headquarters in central Seoul, Thursday.
The CEO went on to say, "Hana Bank will broaden the scope of its cooperative projects as HIRA's ESG management partner to create social value."
Located in the Gangwon provincial city of Wonju, HIRA sets the scope and standards of the services covered by the National Health Insurance Service, which is run under the auspices of the Ministry of Health and Welfare, and evaluates the cost and quality of such services.
