Shinhan Financial Group, together with the Ministry of SMEs and Startups, will carry out the "Let's Buy Value, Moving Forward with Hope" project starting from the 3rd to support domestic small business owners struggling due to COVID-19 in entering the online market and to help secure new sales momentum through product promotion. To commemorate the project, Shinhan Financial Group Chairman Cho Yong-byeong (right in the photo) and Minister Park Young-sun of the Ministry of SMEs and Startups (left in the photo) are taking a commemorative photo.
[Asia Economy Reporter Kim Hyo-jin] Shinhan Financial Group announced on the 2nd that it will carry out the 'Value Let's Buy, Hope Together' project in collaboration with the Ministry of SMEs and Startups to support domestic small business owners struggling due to the novel coronavirus infection (COVID-19) in entering the online market and securing new sales momentum through product promotion.
The project, which starts at 10 a.m. on the 3rd, selected 50 pilot companies after receiving candidate recommendations through regional offices, Baeknyeon Gage (Century-old Stores), Youth Malls, regional special zones, the Small and Medium Business Distribution Center, and the Small Enterprise and Market Service. The selection considered the stories of difficulties caused by COVID-19, the amount of sales decline, and the suitability of products for online sales.
This project, conducted through the 'Hope Together' special exhibition within the Ministry of SMEs and Startups' 'Value Let's Buy' platform, will have 10 companies enter first on the opening day, the 3rd, and a total of about 50 companies will sequentially join by July 13.
In this project, Shinhan Financial will support the overall operation of educational programs and product promotion content that help small business owners succeed in entering the online market, including ▲ marketing education for online startup and sales activation ▲ production and promotion of promotional videos introducing the stories of small business owners and their products.
Additionally, to encourage and support small business owners who want to enter the online business after COVID-19 but face difficult conditions, video content capturing the series of project processes and success stories will be produced and shared through Shinhan Financial's YouTube and SNS channels.
Furthermore, by placing products in online shopping malls such as Shinhan Card's 'All That Shopping' and 'Naver Smart Store,' the project plans to diversify sales channels and induce sales growth.
The trailer video for this campaign surpassed 5 million views within three weeks of being posted on YouTube. On the 3rd, the main video featuring the real story of a rice cake shop owner in Seoul struggling due to COVID-19 and his daughter's story will be released.
Shinhan Financial, selected as a 'Caring Company' (voluntary win-win company) hosted by the Ministry of SMEs and Startups in June last year, is conducting various programs to support small and medium enterprises and small business owners, including SME investment, job creation, and employment support.
Through the 'Hope Together' social donation project campaign held from March to May, Shinhan Financial received donations of about 2.5 billion KRW from approximately 3,400 people to support self-employed individuals, small business owners, and medical staff struggling due to COVID-19.
Also, Shinhan Bank is helping promote local small business owners through the 'Our Neighborhood Support Program,' which posts advertisements for local small business owners free of charge using digital posters and electronic billboards installed at all branches.
The Shinhan Financial Hope Foundation is also conducting the 'Shinhan SO好 (Soho) Success Project,' which selects good businesses that comply with the minimum wage even in difficult times and supports software to improve their management environment.
Shinhan Financial Group Chairman Cho Yong-byeong said, "I hope the 'Value Let's Buy, Hope Together' project, jointly conducted by Shinhan Financial and the Ministry of SMEs and Startups, will become a new growth opportunity for small business owners facing a crisis due to COVID-19," adding, "We will spare no effort to consolidate the group's capabilities to support the rapid recovery and sustainable growth of our society."
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