Located inside Hyundai Department Store's Mokdong branch

Center combines startup support with business succession services

Private lounge and café space available for high-net-worth clients

Kang Seong-muk (fourth from left), chief executive of Hana Securities, and Kim Chang-seop (third from right), executive vice president of Hyundai Department Store, pose for a photo at the opening ceremony for The H1 W on June 23. [Hana Securities]
Kang Seong-muk (fourth from left), chief executive of Hana Securities, and Kim Chang-seop (third from right), executive vice president of Hyundai Department Store, pose for a photo at the opening ceremony for The H1 W on June 23. [Hana Securities]

Hana Securities on Thursday announced the opening of The H1 W, a premium financial center offering comprehensive wealth management services for ultra-high-net-worth clients, at Hyundai Department Store's Mokdong branch in Yangcheon-gu, Seoul.

The H1 W is designed to provide tailored asset management services to Hyundai Department Store VIP customers.

The opening ceremony, held June 23, was attended by about 20 people, including Kang Seong-muk, chief executive of Hana Securities, Kim Chang-seop, executive vice president of Hyundai Department Store, and other executives and customers.

Through the new center, Hana Securities plans to offer asset management services covering shares and bonds, as well as a new family office startup acquisition service.

The service goes beyond conventional gift- and inheritance-based asset succession by supporting children's entrepreneurial ventures as a new form of business succession.

Hana Securities said it will support the transfer of family businesses and the development of next-generation managers, from securing government grants to connecting clients with venture capital.

The center will also run financial seminars and cultural programs through Hana Securities' partnership with Hyundai Department Store's cultural center and VIP channels, and will offer private spaces, including a café lounge, for high-net-worth clients.

"The H1 W is a new wealth management platform that combines competitive financial products, premium client channels and differentiated family office services," Kang said. "We will do our utmost to support customers' asset growth, business succession and next-generation development, so they can experience differentiated financial services in their daily lives."

Kim Chang-seop, executive vice president of Hyundai Department Store, said the center "appears set to offer a fresh experience for Hyundai Department Store VIP customers through a new model that combines finance and retail," adding that the company "will continue to introduce a variety of collaborative services that can benefit our customers."

Hana Securities has been steadily building new partnership channels. Earlier this month, it signed an MOU with Ipark Hyundai Development on promoting productive finance and strengthening competitiveness in advanced strategic industries, and announced plans to support financing and financial structuring for energy and power generation projects. The month before, it signed an MOU with Japanese real estate investment platform firm Ju Real Estate to enhance its global wealth management services.


jiyun@heraldcorp.com