Hana Bank Implements Special Lunar New Year Fund Support of 15 Trillion KRW for Small Business Owners and SMEs

Hana Bank announced on the 7th that it will implement the 'Small and Medium Enterprise (SME) Lunar New Year Special Fund' support until February 14th to fulfill its social responsibility in finance and promote mutual growth with domestic SMEs in celebration of the national holiday 'Seol'.

This Lunar New Year special fund targets SMEs including sole proprietors, providing a total of KRW 15.1 trillion, consisting of KRW 6.1 trillion in new fund support and KRW 9 trillion in maturity extensions.

In particular, by offering an interest rate preferential benefit of up to 1.50 percentage points (p), the bank plans to reduce the actual interest burden on sole proprietors and SMEs.

A Hana Bank official stated, "Through the operation of this Lunar New Year special fund, we plan to reduce the financial burden on SMEs and support the creation of a stable business management environment," adding, "We will spare no comprehensive support to turn the crisis into an opportunity together with domestic companies."

Meanwhile, since the 1st of this month, Hana Bank has been implementing a special loan program worth a total of KRW 300 billion, with up to KRW 2 billion per company, targeting SMEs and small business owners experiencing financial difficulties due to exchange rate fluctuations.

Additionally, the bank is supporting corporate liquidity through an interest rate support program for loans guaranteed by the Korea Technology Finance Corporation and the Korea Credit Guarantee Fund, with a maximum scale of KRW 300 billion. It also provides various supports such as exemption from deposit guarantees for forward exchange transactions, maturity extensions for import bills, and preferential exchange rates and fees for export-import companies vulnerable to exchange rate volatility.

Furthermore, to focus on supporting small business owners, Hana Bank has established the 'SOHO Business Department,' a dedicated team within the corporate group for SOHO customers, and plans to offer specialized products and foreign exchange and tax expert services that can coexist with self-employed individuals and small business owners.