Comprehensive Support Measures at the Group Level
[Asia Economy Reporter Minwoo Lee] Hana Financial Group will provide support such as emergency loans, credit card bill and insurance premium payment deferrals to aid recovery from typhoon 'Hinnamnor' damage.
Hana Financial Group announced on the 7th that it will implement emergency financial support at the group level.
First, Hana Bank will provide new funds totaling up to 200 billion KRW, including emergency living stabilization loans up to 50 million KRW for individuals affected by the typhoon, and emergency management stabilization loans up to 500 million KRW per company for small and medium-sized enterprises.
Additionally, upon maturity of existing credit, Hana Bank will support maturity extensions of up to one year without principal repayment. For installment repayments, payment deferrals of up to six months will be allowed, and loan interest rates will be reduced by up to 1 percentage point.
Hana Card will offer ▲up to six months deferral of credit card payment bills ▲up to six months installment repayment options. Furthermore, card loan fees for both short- and long-term loans used within six months after the typhoon damage date will be discounted by 30%.
Hana Life Insurance will defer insurance premium and insurance contract loan interest payments for up to six months and will expedite payment of accident insurance claims related to typhoon damage.
Hana General Insurance will provide up to 50% of estimated insurance payouts in advance even before accident investigations are completed for typhoon-related claims, and will allow premium payment deferrals for up to six months for insured customers affected by the typhoon.
Ham Young-joo, Chairman of Hana Financial Group, stated, "Customers affected by typhoon 'Hinnamnor' need warm attention and assistance," adding, "We will do our best at the group level to help them return to a stable daily life as soon as possible."
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