The Korea Minting, Security Printing & ID Card Operating Corporation (KOMSCO) and Hana Bank are collaborating to expand their currency goods business. On the 27th, KOMSCO and Hana Bank signed a memorandum of understanding at Hana Bank’s headquarters to jointly promote the development of goods utilizing by-products from currency manufacturing.
The two organizations agreed to activate ESG projects using currency manufacturing by-products, jointly utilize these by-products, and cooperate in supply and promotion efforts for goods planned in collaboration. Through this agreement, KOMSCO plans to combine Hana Bank’s goods planning capabilities with its abundant resources to develop and launch eco-friendly and valuable currency goods.
By-products from the currency manufacturing process refer to misprinted materials. Currently, about 500 tons of such by-products are incinerated annually, causing environmental pollution and incurring disposal costs. KOMSCO has started selling “money pens,” which confer new value on these by-products, through customized B2B orders for companies and institutions. In March, these products will also be available to the general public through KOMSCO’s online store. Additionally, KOMSCO plans to release a range of eco-friendly currency goods such as cushions, bags, and calendars.
KOMSCO President Sung Chang-hoon stated, “The currency goods business is a meaningful project that transforms by-products from the money manufacturing process into valuable products. We will continue to create exemplary cases that realize a circular economy and social value by using by-products generated throughout the entire currency manufacturing and distribution process.”
Since 2023, Hana Bank has been conducting the “Money Dream Campaign” by recycling shredded banknotes to create goods like pillows, clocks, and cushions to provide unique experiences to customers while protecting the environment. This campaign has been highly regarded as an ESG marketing example. The Money Dream Campaign was recognized as the best performance marketing campaign, winning awards in five categories at the 2024 Effie Awards Korea, the first time for a financial institution.