Hana Financial Group chairman Kim Jung - tae ( center , second row ) and Korea Exchange Bank president Kim Han - jo ( third from right ) pose at the inauguration ceremony of Hana Bank ( China ) Co . Ltd . , the integrated unit of the Chinese branches of Hana Bank and KEB . ( Hana Financial Group ) Hana Financial Group , the nation ’ s second - largest banking group in terms of assets , said Sunday that the Chinese subsidiaries of Hana Bank and Korea Exchange Bank have completed their merger . The establishment of Hana Bank ( China ) Co . Ltd . is expected to give impetus to the group ’ s plan to integrate the domestic operations of the two banks as early as in the first quarter next year . “ Hana Bank China will greatly contribute to the Korea - China trade and development of their financial industries , especially with the recent conclusion of the bilateral free trade agreement , ” said group chairman Kim Jung - tae . It is the group ’ s plan to promote its Chinese unit into one of the top five foreign banks in China within the next 10 years , according to the group ’ s spokesman . “ Hana Bank ’ s forte in retail banking and KEB ’ s skills in corporate banking and investment will create a positive momentum , ” he added . The Chinese unit currently has 7 . 8 trillion won of assets , 910 billion won of equity capital , 30 branches and 775 employees , according to the group . Back in 2012 , the financial group acquired KEB from U . S . private equity investor Lone Star Funds for 3 . 9 trillion won ( $ 3 . 5 billion ) . By taking over the exchange bank , Hana came to have the largest overseas network ― 128 branches in 24 countries ― among South Korean competitors . Aiming to maximize the synergy , group chairman Kim Jung - tae said in July that there will be an earlier - than - expected merger of the two banks . Despite the continuous opposition from KEB ’ s labor union , the group merged the Indonesian banking units in March and the domestic credit card units earlier this month . “ Our key target is to become South Korea ’ s No . 1 and the world ’ s top 40 financial companies by year 2025 , and also to increase the rate of overseas operating profits up to 40 percent , ” the chairman said . In order to achieve such a goal , it is crucial that the banking units integrate as soon as possible and operate as one , he added . By Bae Hyun - jung ( tellme @ heraldcorp . com ) 미래 엘리트 를 위한 영어 신문 주니어 헤럴드 	 더 많 은 기사 보 러 가 기 → [ 코리아 헤럴드 홈페이지 ] [ 트위터 ] [ 페이스북 ] 	 구독 신청 1588 - 0533 	 <ⓒ KoreaHerald ( www . koreaherald . com ) 무단 전재 및 재 배포 금지 >