Hana Bank announced on March 3 that it will provide liquidity support totaling 506.5 billion won by contributing 15.2 billion won to foster regional hub companies in the Busan and Yeongnam areas.
Ho Sung Lee, President of Hana Bank (second from left), is taking a commemorative photo with officials after signing a business agreement to support the development of key companies in the Busan Yeongnam region at Busan Metropolitan City Hall on the 3rd. (From left) Sangchang Lee, Executive Director of Korea Technology Finance Corporation; Ho Sung Lee, President of Hana Bank; Hyungjun Park, Mayor of Busan Metropolitan City; Jaesaeng Yang, Chairman of Busan Chamber of Commerce and Industry; Byungho Chae, Executive Director of Korea Credit Guarantee Fund. Provided by Hana Bank
In this regard, Ho Seong Lee, CEO of Hana Bank, signed a business agreement for the "Busan and Yeongnam Regional Hub Company Development Support" earlier in the day, together with Hyungjun Park, Mayor of Busan Metropolitan City, and Jaesaeng Yang, Chairman of the Busan Chamber of Commerce and Industry, among others.
This agreement is an initiative to strengthen productive financial support by promoting balanced growth focused on the “Five Core, Three Specialized Zones” strategy and fostering specialized industries in the Busan and Yeongnam regions. Hana Bank will provide a total of 15.2 billion won-5.2 billion won to Korea Technology Finance Corporation and 10 billion won to Korea Credit Guarantee Fund-to supply liquidity totaling 505.6 billion won. Of this, a guarantee fee of 0.6% will be supported for two years on 265.6 billion won.
The support targets small and medium-sized enterprises in the Busan and Yeongnam areas that possess technological capabilities and are engaged in new growth engines and future strategic industries. Korea Technology Finance Corporation and Korea Credit Guarantee Fund will offer preferential guarantee ratios and guarantee fee reductions. Busan Metropolitan City will provide an interest subsidy of 2.0% on working capital totaling 150 billion won to help reduce financial costs.
Ho Seong Lee, CEO of Hana Bank, stated, “Balanced regional development is a key pillar for securing new future growth engines for the nation,” adding, “Hana Bank will spare no financial support to foster technologically advanced regional hub companies in the Busan and Yeongnam areas and to create growth engines for each region.”
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