Taxi Driver Loan Support... Hana Bank Partners with Tada and SGI Seoul Guarantee

Interest-Free Loans Available for Tada Drivers to Purchase Vehicles

Lee Hoseong, Executive Vice President of Hana Bank (first from the left), signed a business agreement for "Financial Support for Taxi Drivers" with Tada and SGI Seoul Guarantee on the 8th at the Euljiro headquarters in Jung-gu, Seoul. He is taking a commemorative photo with Lee Jeonghaeng, CEO of Tada (center), and Hwang Uitak, Executive Director of SGI Seoul Guarantee. (Photo by Hana Bank)

[Asia Economy Reporter Minwoo Lee] Hana Bank is partnering with the mobility platform 'Tada' and SGI Seoul Guarantee to provide financial support to taxi drivers.

On the 9th, Hana Bank announced that it signed a 'Memorandum of Understanding (MOU) for Financial Support for Taxi Drivers' with Tada and SGI Seoul Guarantee at its Euljiro headquarters in Jung-gu, Seoul, the previous day.

Accordingly, SGI Seoul Guarantee will provide insurance policies to drivers selected by Tada, and Hana Bank will offer low-interest loans to the drivers using the insurance policies as collateral. Tada will cover all interest generated from the loan handling, thereby relieving drivers of interest burdens.

As a result, Tada 'Next Driver' is expected to receive interest-free loans of up to 36 million KRW over three years, and Tada 'Plus Driver' up to 24 million KRW over two years for vehicle purchases and other necessary funds.

Lee Hoseong, Executive Vice President of Hana Bank, stated, "Through this MOU, we hope to establish a foundation where companies and drivers can coexist in the mobility platform market," adding, "Hana Bank will continue to be a reliable partner, providing ongoing financial support so that everyone can grow together and achieve innovative development."