Hana Financial Group Signs MOU with Doosan Group
Extension of Loan Maturities for Small Business Owners and Self-Employed
Interest Repayment Also to Be Deferred
On the 24th, at the Hana Bank headquarters in Euljiro, Jung-gu, Seoul, during the business agreement ceremony between Hana Financial Group and Doosan Group to promote the Korean New Deal, Jisung Kyu, CEO of Hana Bank (fourth from the left), is taking a commemorative photo with attendees including Jeong Yeon-in, CEO of Doosan Heavy Industries & Construction (fifth from the left). (From the left) Hyochang Kang, Regional Representative of Hana Bank Central Sales Headquarters; Seungo Park, Executive Director of Hana Bank Credit Group; Heeseok Kim, President of Hana Alternative Investment Asset Management; Jisung Kyu, CEO of Hana Bank; Jeong Yeon-in, CEO of Doosan Heavy Industries & Construction; Sookyung Yoo, CEO of Doosan Fuel Cell; Seungam Baek, Vice President of Doosan Co., Ltd.; Jongmun Lee, Managing Director of Doosan Heavy Industries & Construction. Photo by XXX
[Asia Economy Reporter Kim Min-young] Hana Financial Group announced on the 26th that it will invest 10 trillion won to support the government's 'Korean New Deal' policy.
Hana Financial's financial support through the Korean New Deal financial project will focus on the 'Digital New Deal' and 'Green New Deal.' Group affiliates, including Hana Bank, will collaborate to actively invest in customized New Deal projects for local governments and support for small business owners and startups. They also plan to actively participate in industry-academia-government cooperation projects to expand innovative finance.
Kim Jung-tae, Chairman of Hana Financial Group, stated, “We will do our best to support the financial sector to overcome the national difficulties caused by the novel coronavirus infection (COVID-19),” and added, “Hana Financial will play a pioneering role for the successful promotion of the Korean New Deal.”
First, to support the Digital New Deal, the group plans to focus investment on digital infrastructure construction projects. Support will be provided not only for industrial digital innovation and productivity enhancement industries such as the materials, parts, and equipment industry and smart industrial complexes but also for corporate finance (IB) support for 5G facility investment and data centers. In addition, strategic investments in 'social overhead capital (SOC) digitalization' projects will be actively pursued, including equity investments for smart cities and smart logistics system development projects.
Active financial support will also be provided for the Green New Deal. Direct and indirect participation in eco-friendly future promising industries and concentrated investment in projects to spread low-carbon and distributed energy will be promoted. In particular, by focusing on arranging investments in renewable energy such as offshore wind power, hydrogen fuel cells, and solar power, the group plans to expand its role as a market creator and seek opportunities to attract capital through alternative investments.
Hana Financial and Doosan Group Sign MOU
To this end, Hana Financial signed a business agreement with Doosan Group on the 24th to promote the Korean New Deal. This is Hana Financial's first financial support case for the Korean New Deal. The agreement mainly covers direct and indirect financial support for Doosan Group's green energy businesses such as wind power and hydrogen fuel cells.
Hana Financial will actively cooperate with Doosan Group, including Doosan Heavy Industries & Construction, the only domestic manufacturer of offshore wind turbines, Doosan Fuel Cell, which holds core technology for hydrogen fuel cells, and Doosan, which is promoting fuel cell businesses for buildings, homes, and mobile applications, to successfully promote the Green New Deal.
Furthermore, Hana Financial plans to continuously support local small business owners and micro-entrepreneurs who are struggling due to COVID-19.
They have decided to further extend the loan maturity extension and interest repayment deferral for small and medium-sized enterprises and self-employed individuals, which are due at the end of September. Additional support for special loans for local small business owners and self-employed individuals is also under consideration.
Additionally, through the period industry cooperation program, they will actively assist in quickly supporting cooperating companies in period industries such as aviation, shipping, shipbuilding, and automobiles that are experiencing liquidity crises.
Hana Financial is contributing to revitalizing the local economy by supporting 500 billion won in local guarantee loans for small business owners and providing localized financial support and management consulting through small business support centers installed at 76 major branches nationwide of Hana Bank.
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