Hana Financial Group Provides Emergency Financial Support for Heavy Rain Damage Recovery

Emergency Living Stabilization Fund up to 50 Million KRW for Individuals
Emergency Management Stabilization Fund up to 500 Million KRW for SMEs, Mid-sized Companies, and Individual Business Owners

Hana Financial Group Myeongdong Building.

Hana Financial Group announced on the 19th that it will provide various emergency supports for disaster victims affected by the ongoing heavy rains nationwide.

To support the livelihoods of local disaster victims, Hana Financial plans to deliver 2,000 Happiness Boxes containing essential daily necessities such as blankets, towels, wet wipes, and toiletries. They will also support a mobile meal truck to provide hearty meals for disaster victims and recovery workers sweating it out at the flood damage sites.

For the swift recovery of disaster victims, rapid financial support programs such as new loans, maturity extensions, preferential interest rates, and deferrals of insurance premiums and card payment dues will be implemented.

Hana Bank, a key affiliate of the group, will provide emergency living stabilization loans of up to 50 million KRW to individuals affected by the heavy rains. Loan interest rates will be reduced by up to 1.0 percentage point. For small and medium-sized enterprises, mid-sized companies, and individual business owners, emergency business stabilization loans of up to 500 million KRW will be offered, with interest rate reductions of up to 1.3 percentage points.

Additionally, upon maturity of existing credit, Hana Bank will support maturity extensions of up to one year without principal repayment, and defer repayments of installment payments for up to six months.

Hana Card will provide financial support including up to six months’ deferral of credit card payment billing and up to six months’ installment repayment. For customers applying for emergency financial services, interest rates on short- and long-term card loans will be reduced by 30%.

Hana Life Insurance will allow up to 12 months’ deferral of insurance premium payments and principal and interest payments on insurance policy loans. For claims related to accidents caused by the heavy rains, insurance payouts will be made as quickly as possible.

Hana General Insurance will provide advance payments of up to 50% of estimated insurance claims even before accident investigations are completed for claims related to the heavy rain damage. For long-term insurance policyholders affected by the heavy rains, financial support will be provided to defer premium payments for up to six months.

Ham Young-joo, Chairman of Hana Financial Group, stated, “We will do our utmost to help customers and local communities affected by the heavy rains return to stable daily lives as soon as possible,” and added, “All of Hana Financial Group will join forces to provide diverse and practical support to overcome the damage caused by the heavy rains.”