Hana Bank Provides 300 Billion KRW Financial Support to Companies Affected by Wuhan Pneumonia

[Asia Economy Reporter Kim Min-young] KEB Hana Bank announced on the 31st that it will provide financial support to companies affected by the novel coronavirus infection (Wuhan pneumonia).

For corporate clients such as small and medium-sized enterprises (SMEs) and individual business owners engaged in travel, accommodation, and restaurant industries, the bank will newly provide emergency management stabilization funds of up to 500 million KRW per company, with a total limit of 300 billion KRW.

In addition, when existing loans of SMEs in the relevant industries mature, the bank will support loan maturity extensions for up to one year without principal repayment, and defer installment repayments for up to six months.

Furthermore, interest rate reductions of up to 1.3% will be supported.

A Hana Bank official stated, “We will do our best to minimize damage by promptly providing financial support to SMEs affected by the novel coronavirus and to prevent risks from spreading throughout the economy.”

This content was produced with the assistance of AI translation services.