Ham Young-joo, chairman of Hana Financial Group, emphasized the need for a stronger role of private finance in linking industrial and financial policies. He stated that in the rapidly changing industrial environment, finance should evolve from merely being a provider of funds to becoming a partner in corporate growth.
Speaking at the seminar titled "Financial Policy in the Era of Strategic Industrial Policy" held at the Korean Bankers Association in Jung-gu, Seoul, Ham remarked, "As uncertainties in the global supply chain increase, it has become impossible to separate industrial policy, which is directly linked to national security, from financial policy. This underscores the significant role and responsibility of private finance."
He noted that the industrial ecosystem is swiftly transitioning beyond traditional core industries to technology-driven sectors such as artificial intelligence (AI), data, and energy. Ham cited the evolution of automobiles from simple transportation means to advanced electric vehicles as a prime example, stating, "In this era of transformation, finance must move beyond the narrow definition of traditional funding support."
Ham also highlighted the importance of finance in supporting the entire growth process of companies. He stated, "The true role of finance is to support the entire lifecycle of a company, from its inception to growth and leap, by properly evaluating investments in research and development (R&D) and intangible technological capabilities."
He argued that productive finance should not be limited to advanced industries alone. According to him, true productive finance is realized when it combines inclusive finance that encompasses not only the nurturing of future industries but also the foundational industries and small manufacturing sectors that support the economy.
Ham concluded, "Hana Financial will play a leading role as a key pillar in the collaborative model connecting industrial policy, policy finance, and private finance, enabling South Korean companies to secure future technological competitiveness and lead the global technology ecosystem." He added, "The entire financial sector must break free from outdated frameworks and demonstrate greater effort and adaptability to foster innovation and the growth of future industries in South Korea."
* This article has been translated by AI.
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