Hana Bank to Provide 420 Billion KRW in Financial Support
Special Contribution of 10.7 Billion KRW to Credit and Technology Guarantee Funds
Support for Guarantee Certificates and Fees with Preferential Guarantee Ratios
Lee Hosung, President: "All-out Support so SMEs Can Lead the Recovery of the Real Economy"
Hana Bank announced on July 29 that it will provide financial support totaling 420 billion KRW by making an additional special contribution of 10.7 billion KRW to the Korea Credit Guarantee Fund and the Korea Technology Finance Corporation, in order to support the recovery of the real economy and strengthen industrial competitiveness.
This support has been prepared to help small and medium-sized enterprises (SMEs) overcome crises amid domestic and international economic uncertainties, and to promote innovative growth by strengthening the competitiveness of export companies.
Previously, in the first half of this year, Hana Bank contributed 31.1 billion KRW, providing financial support totaling 1.2702 trillion KRW. In the second half, the bank plans to make an additional special contribution of 10.7 billion KRW, sign individual agreements with the credit and technology guarantee institutions, and support guarantee certificates and guarantee fees that benefit from preferential guarantee ratios (90% or higher).
Through these measures, Hana Bank plans to provide financial support totaling 420 billion KRW to promising SMEs with technological capabilities and growth potential.
Lee Hosung, President of Hana Bank, stated, "We hope this financial support will provide practical help to SMEs facing difficulties due to the economic downturn," and added, "Hana Bank will continue to provide all possible support so that SMEs, as the driving force of economic growth, can lead the recovery of the real economy."
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Meanwhile, Hana Bank is implementing the 'Special Program for Reducing Financial Costs for SMEs' to help alleviate the financial burden of SMEs that are expected to face difficulties such as declining sales due to the economic downturn. This program reduces interest rates on SME loans that exceed 5% down to 5% (with a maximum reduction of 2 percentage points), thereby providing substantial financial benefits to SMEs struggling with interest payments.
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