Shinhan Card Supports Small Businesses Affected by COVID-19... "Launches Online Shopping Exclusive Section"

All That Shopping Launches Dedicated Section for Small and Medium Enterprises and Small Business Owners

[Asia Economy Reporter Ki Ha-young] Shinhan Card has announced additional support measures for small and medium-sized enterprises (SMEs) and small business owners struggling due to the novel coronavirus infection (COVID-19).

Shinhan Card announced on the 1st that it will open a dedicated section for SME and small business owner products through its shopping mall, All That Shopping. This was benchmarked after Amazon's SME collaboration project, Storefronts, and was created to help small business owners who are relatively vulnerable online.

This dedicated section is scheduled to open on the 6th, and plans to activate sales of small business owner products through promotions such as dramatic discounts and My Shinhan Points accumulation. In addition to product promotion and sales, company introductions through promotional videos will also be conducted to strengthen marketing support.

Shinhan Card is also indirectly supporting small business owners through the Shinhan Day event held from today until the 3rd. At 11st, where many SMEs and small business owners are located, an 11% discount coupon is provided, and at Wemakeprice, category-specific discount coupons of up to 12% are offered.

Furthermore, it plans to support COVID-19 response by utilizing big data capabilities. It is promoting a plan to organize sectors experiencing consumption shocks in detail and provide the information to the government and local governments.

Earlier, according to Shinhan Financial Group's COVID-19 response measures, Shinhan Card has implemented a 30% reduction in interest rates on business loans for small and medium-sized merchants with annual sales of less than 500 million won, 2-3 months interest-free installment plans, deferred payment of settlement funds, and various marketing supports through My Shop, a marketing platform that small business owners can participate in. In particular, the interest rate reduction on business loans was applied to a total loan amount of 7.6 billion won from February 7 to 26.

A Shinhan Card official said, "As the COVID-19 response is the nation's top priority, Shinhan Financial Group, including Shinhan Card, plans to devise and implement all possible measures."

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