Shinhan Bank Extends Maturity and Waives Interest for Sellers with Delayed Settlement on Timf

Shinhan Bank announced on the 7th that it will provide financial support to small and medium-sized enterprises and individual business owners who are experiencing difficulties due to delayed settlements from TMON and WEMAKEPRICE.

In line with the support measures for sellers affected by delayed settlements from TMON and WEMAKEPRICE announced by the Financial Services Commission and the Ministry of SMEs and Startups, Shinhan Bank will support affected sellers by extending loan maturities and granting repayment deferrals to prevent overdue payments. Applications for maturity extensions and repayment deferrals can be made at Shinhan Bank branch counters.

The support targets are corporate and individual business owners who are TMON and WEMAKEPRICE affiliated sellers (sellers) and have suffered damages due to delayed settlements. To receive financial support, settlement records from TMON and WEMAKEPRICE for May to July are required, and cases where principal and interest arrears occurred before mid-July or where the business has closed are excluded.

A Shinhan Bank official stated, “We have implemented this financial support plan to assist corporate and individual business customers affected by delayed settlements from TMON and WEMAKEPRICE,” and added, “We will continue to actively support minimizing customer damages in line with the Financial Services Commission and the Ministry of SMEs and Startups’ support measures for sellers affected by delayed settlements.”