Hana Bank Installs Dedicated COVID-19 Financial Support Counters at All Branches

Jisung Kyu, CEO of Hana Bank (left), is consulting with a small business owner on April 4th at the Euljiro branch of the bank in Jung-gu, Seoul, regarding financial support related to damages caused by the novel coronavirus infection (COVID-19). Photo by Hana Bank

[Asia Economy Reporter Kim Min-young] Hana Bank has established dedicated financial support counters for COVID-19 at all its branches.

Hana Bank announced on the 4th that it will operate dedicated COVID-19 counters to provide prompt financial support to small business owners and self-employed individuals.

On the same day, Jisung Kyu, CEO of Hana Bank, visited the Euljiro branch located in a small business-dense area in Jung-gu, Seoul, to directly consult with local small business owners about the difficulties caused by COVID-19 and pledged to swiftly provide management funds.

The CEO stated, “Small business owners and self-employed individuals running restaurants and retail businesses, which we commonly visit in our daily lives, are currently suffering the greatest damage due to COVID-19,” and emphasized the bank’s commitment to actively support affected companies by saying, “Financial consultations and support related to COVID-19 should be prioritized and executed promptly over other tasks at the business sites.”

Hana Bank is providing emergency management stabilization funds of up to 500 million KRW per company within a total limit of 400 billion KRW, based on branch discretion, even without official damage certification from the relevant authorities, to medium-sized, small and medium enterprises, and individual business owners affected by COVID-19. The bank also offers repayment deferrals without principal repayment for up to one year upon maturity or installment repayment of existing loans, and supports interest rate reductions of up to 1.3 percentage points per annum.

Furthermore, considering that small business owners find it difficult to visit branches in person, Hana Bank is extending loan maturities through ‘non-face-to-face’ methods.

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