Completed 200.2 Billion Won in Interest Refunds for Small Business Owners and Self-Employed Customers with Business Loans
Provided Substantial Financial Benefits to Financially Vulnerable Groups, Including Low-Income Individuals and Youth
Hana Bank announced on July 31 that it has fully executed its 355.7 billion won livelihood finance support plan, which was announced in January of last year.
First, Hana Bank completed the execution of 200.2 billion won for the cashback on business loan interest, which is a common program under the banking sector's livelihood finance support plan. This amount exceeded the originally planned 199.4 billion won. Through this, the bank provided tangible benefits to small business owners and self-employed individuals who have been struggling due to high inflation and delayed domestic economic recovery.
As part of its voluntary programs, Hana Bank contributed 61.2 billion won to the Korea Inclusive Finance Agency, 19.4 billion won to regional credit guarantee foundations to revitalize local economies, and 16.8 billion won in guarantee fee support to the Korea Credit Guarantee Fund, the Korea Technology Finance Corporation, and the Korea Trade Insurance Corporation, including support for low-interest refinancing loan guarantee fees.
Additionally, to reduce operating costs for small business owners, Hana Bank supported 30 billion won for energy living expenses and 10 billion won for workplace environment improvement costs, such as replacing high-efficiency energy and digital transformation equipment. The bank also provided monthly support for franchisee re-registration agency fees, smart payment device purchase costs, and customized consulting fees.
Hana Bank also implemented projects for financially vulnerable groups, such as diligent debt repayers and youth who face difficulties in credit recovery. In cooperation with the Korea Student Aid Foundation, the bank launched the 'Blue Lighthouse Credit Recovery Support Project' to help young people who have long-term overdue student loans regain their financial footing. Hana Bank also signed agreements with the Credit Counseling & Recovery Service and Hana Card to issue cards to diligent debt repayers, and provided support for youth startup office rental fees and e-commerce settlement receivables factoring.
Lee Hosung, CEO of Hana Bank, stated, "We have been implementing a variety of tailored financial support programs to provide tangible benefits to small business owners, low-income individuals, and youth, as well as other financially vulnerable customers who are struggling in uncertain economic conditions," and added, "Going forward, Hana Bank will continue to practice inclusive finance with sincerity to lead sustainable growth across society as a whole."
Through its specialized financial brand for small business owners, 'Hana The SOHO,' Hana Bank continues to launch a variety of products and services to support the successful future of small business owners in Korea. The bank also provides customized consulting services, including commercial district analysis and financial and management support, for each stage of business establishment, growth, and closure for small business owners.
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