Hana Bank and Korea Exchange Bank (KEB) and launched KEB Hana Bank in September 2015. Feb 2019: Name changed from KEB Hana Bank to Hana Bank Jun 2021: Secured approval from Taiwan's financial authorities to open a branch in Taiwan, making it the first bank from South Korea to set up a foothold in Taiwan. Controversies regarding the acquisition of Korea Exchange Bank There were some issues that happened in the process of the acquisition and sale of Korea Exchange Bank(KEB) by Lone Star Funds, a private U.S. equity fund. The issues caused a lot of conflicts between Lone Star Funds and South Korean regulatory authorities. According to the Banking Act of South Korea, Article 2 defines, "The term "non-financial business operator" means a person falling under any of the following items: (a) The same person with respect to which the total amount of gross capital (referring to the gross amount of assets less the gross amount of debts, on the balance sheet; hereinafter the same shall apply) of persons who are non-financial companies (referring to companies that run such non-financial businesses as determined by the Presidential Decree; hereinafter the same shall apply) is not less than 25/100 of the total amount of gross capital of persons who are companies; (b) The same person with respect to which the total amount of gross capital of persons who are non-financial companies is not less than such an amount as prescribed by the Presidential Decree, which is not less than two trillion won; and (c) A securities investment company under the Securities Investment Company Act (hereinafter referred to as the "securities investment company") with respect to which a person as referred to in item (a) or (b) holds more than 4/100 of the total number of the issued stocks (referring to the case that the same person owns stocks under his or another person's name or has voting rights to them through a contract, etc.; hereinafter the same shall apply)." Therefore, Lone Star Funds might have been considered as non-financial business operator. Issues regarding the acquisition In 2003, Lone Star Funds tried to acquire Korea Exchange Bank. It was controversial because, according to the Banking Act, a non-financial business operator is not entitled to acquire a bank unless a bank's BIS ratio is below 8%. Consequently, the president of KEB, Kang-won Lee sent a report that Korea Exchange Bank's BIS ratio was