Shinhan Bank Supports Homeplus Partners with Preferential Loan Rates and Other Assistance
Up to 500 Million Won in New and Refinancing Loans per Company
Maturity Extension Without Principal Repayment at Loan Expiry
Prompt Support Planned Upon Confirmation of Supply to Homeplus
Shinhan Bank will provide support to Homeplus partner companies, including preferential loan rates of up to 1 percentage point and deferment of installment repayments.
Shinhan Bank announced that, starting July 8, it will implement financial support measures for partner companies experiencing difficulties such as delayed payment for deliveries, following the termination of Homeplus’s rehabilitation proceedings.
The main support measures include new or refinancing loans of up to 500 million won per company, preferential loan rates of up to 1.0 percentage point, maturity extensions without principal repayment at the loan’s maturity, and deferment of installment repayments.
For partner companies that are currently overdue on their payments, Shinhan Bank will reduce late payment interest. As long as it is confirmed that the company has supplied goods to Homeplus, support will be provided promptly without requiring additional documentation to confirm delayed payment for deliveries.
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A representative from Shinhan Bank explained, “We are quickly implementing these support measures to ease the financial burden on small and medium-sized businesses and self-employed individuals facing difficulties due to the termination of Homeplus’s rehabilitation proceedings.”
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