Shinhan Financial Group to Provide 10.5 Trillion KRW Support to SMEs and Small Merchants Hit Hard by US Tariffs

Shinhan Financial Group announced on the 7th that it will provide proactive financial support amounting to 10.5 trillion KRW to small and medium-sized enterprises (SMEs) and small business owners, including domestic export companies that may face financial difficulties due to the introduction of reciprocal tariffs by the United States.

First, 6.4 trillion KRW will be provided through a corporate preferential interest rate program aimed at alleviating the financial burden on SMEs and small business owners. In addition, a special interest rate reduction Hi-Pass coupon worth 3 trillion KRW will be issued to export companies to support domestic industries.

Furthermore, 500 billion KRW will be supported through a special contribution to the Credit Guarantee Foundation to assist new loans for small business owners. To support new loans for export companies and other SMEs, 600 billion KRW will be provided through a special contribution to the Korea Credit Guarantee Fund.

Meanwhile, through the operation of the newly established 'Shinhan Corporate Grievance Support Center' in December last year, the Group plans to actively support the extension of import letter of credit maturities for importers facing difficulties in payment due to the high exchange rate. Non-financial support such as management consulting in taxation, accounting, foreign exchange, legal affairs, and marketing for import and export SMEs will also be provided.

Chairman Jin Ok-dong stated, "Shinhan Financial will make every effort to ensure the stability of the financial market through proactive financial support for SMEs and small business owners who may face financial difficulties due to the introduction of reciprocal tariffs by the United States."