Hanacard Signs Business Agreement with Korea Federation of SMEs to Support Small Business Owners

First in Card Industry to Promote Yellow Umbrella Subscription Agency Service
Partnership Card Launch and Small Business Credit Evaluation Model Development Scheduled for Second Half of the Year

Kwon Gil-ju, CEO of Hana Card (left), is taking a commemorative photo with Seo Seung-won, Executive Vice President of the Korea Federation of Small and Medium Business (right), at the "Business Agreement Ceremony for Financial Support for Small Businesses and Small Merchants" held on the 6th at the Korea Federation of Small and Medium Business in Yeouido, Seoul.

[Asia Economy Reporter Ki Ha-young] Hana Card announced on the 6th that it signed a "Business Agreement for Financial Support of Small Enterprises and Small Business Owners" with the Korea Federation of Small and Medium Business (Kbiz) at the Kbiz headquarters in Yeouido on the 6th.

The signing ceremony was held with only a few officials attending, including Kwon Gil-ju, President of Hana Card, Park Ui-su, Executive Director of Hana Card, Seo Seung-won, Standing Vice Chairman of Kbiz, and Park Yong-man, Director of the Kbiz Mutual Aid Business Division.

Through this agreement, Hana Card plans to be the first in the card industry to promote the Yellow Umbrella subscription service in July. Currently, the Yellow Umbrella subscription agency service is provided by 15 financial institutions including Hana Bank and MG Saemaeul Geumgo, and Hana Card is the first in the card industry to offer this service.

Additionally, in the second half of this year, Hana Card plans to launch the "Yellow Umbrella Partnership Card," which offers differentiated benefits to Yellow Umbrella subscribers to improve welfare for small business owners. To establish a foundation for preferential financial treatment for small business owners, a new credit evaluation model for small business owners will be developed using "KBIZ data," including Kbiz's Yellow Umbrella, mutual aid business funds, and Blue Umbrella mutual aid.

Kwon Gil-ju, President of Hana Card, said, "Through this business agreement, we will do our best to provide improved financial products and services to small business owners who are still facing many difficulties after COVID-19 and become a company that fulfills its social responsibility by growing together with customers and sharing happiness."