Hanacard Provides Emergency Financial Services for 'New Coronavirus' Victims... "Up to 3 Months Payment Deferral"
[Asia Economy Reporter Ki Ha-young] Hana Card announced on the 5th that it will provide emergency financial services to small merchants affected by the novel coronavirus infection (Wuhan pneumonia).
The application for this emergency financial service is available until the 31st of next month for small merchants with annual sales of 500 million KRW or less, whose coronavirus damage has been confirmed through the Hana Card Customer Center.
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Merchants who apply for the service and have confirmed damage can receive a billing deferral for up to 3 months on credit card usage amounts (lump sum, installment, card loan, cash service). Even if they are overdue, debt collection will be suspended for up to 6 months, allowing installment repayments. Additionally, interest on newly applied long-term card loans (card loans) and short-term card loans (cash services) during this period will be reduced by 30%.
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