Hanwha deepens Abu Dhabi digital finance push
Hanwha’s financial affiliates signed partnerships to develop digital banking, cross-border payments and digital-asset infrastructure with Abu Dhabi.
From left to right: H.E. Rashed Abdulkarim Al Blooshi, CEO of ADGM Registration Authority; H.E. Jamal Abdulla Al Suwaidi, Ambassador of the UAE in Korea; H.E. Shamis Ali Al Dhaheri, Chairman of Department of Community Development and Second Vice Chairman of Abu Dhabi Chamber; Kwon Hyek-woong, Vice Chairman and CEO of Hanwha Life; Im Dong-jun, CEO of Hanwha Asset Management; Kim Dong-wook, Chief Global Business Officer of Hanwha Life pose for a photo during the Abu Dhabi Investment Forum held in southern Seoul on Sept. 16.
HANWHA LIFE INSURANCE
Hanwha Group’s financial affiliates announced plans to expand their partnership with Abu Dhabi in digital finance, including digital banking and cross-border payments, at the Abu Dhabi Investment Forum Seoul held in southern Seoul on Wednesday.
Hanwha Life Insurance said it signed a partnership with Abu Dhabi Investment Office (ADIO), the government entity responsible for attracting and facilitating investment in the Emirate of Abu Dhabi, to create an ecosystem for digital finance and to forge deeper links between the Korean and Emirati capital markets.
Hanwha Asset Management partnered with the operator of Abu Dhabi Global Market (ADGM), the international financial center and free economic zone of the United Arab Emirates (UAE) capital, and Hana Financial Group to build infrastructure for cross-border payments and remittances between Korea and Abu Dhabi and help develop an interoperable digital-asset ecosystem.
At the Wednesday forum, Fatima Al Hammadi, Head of the FIDA (Fintech, Insurance, Digital and Alternative assets) Cluster at ADIO, said Korea is a key partner market for Abu Dhabi given its strong innovation capabilities and growth potential in finance, digital technology and other sectors. She added that the partnership with Hanwha will pave the way for deeper practical cooperation, including joint investments and the identification of new business opportunities.
“The company will seek to turn its cooperation with Abu Dhabi into concrete business opportunities through the agreement,” said Kwon Hyek-woong, Vice Chairman and CEO of Hanwha Life, pledging to become a leading global financial company.
Im Dong-jun, CEO of Hanwha Asset Management, said Abu Dhabi is “a partner with the potential to serve as a powerful springboard for global financial and digital-asset companies.” Im vowed to “contribute to building a stable and interoperable digital-asset market and establish Hanwha Asset Management as an asset manager that helps Abu Dhabi develop into a global hub for the financial ecosystem.”
The latest partnership builds on Hanwha’s financial affiliates’ efforts to expand ties with Abu Dhabi, after the group identified joint investment in real-world assets, supply-chain finance, cross-border payment infrastructure and digital-asset platforms as potential areas for future financial cooperation between Korea and the UAE in December.
BY JIN MIN-JI [[email protected]]
