Hana Bank Signs Agreement with Yongin City and Gyeonggi Credit Guarantee Foundation to Support Small Businesses Affected by COVID-19

On the 5th, at Yongin City Hall in Gyeonggi Province, Hana Bank, Yongin City, and the Gyeonggi Credit Guarantee Foundation signed a special guarantee business agreement to alleviate the financial difficulties of small business owners struggling due to the novel coronavirus infection (COVID-19). From the left, Lee Min-woo, Chairman of the Gyeonggi Credit Guarantee Foundation, Baek Gun-gi, Mayor of Yongin, and Ahn Young-geun, Executive Vice President of Hana Bank's Central Sales Group 1, are taking a commemorative photo at the signing ceremony.

[Asia Economy Reporter Kim Min-young] Hana Bank announced on the 6th that it has signed a 'Special Guarantee Agreement for Supporting Small Business Owners in Response to COVID-19' worth a total of 10 billion KRW with Yongin City, Gyeonggi Province, and the Gyeonggi Credit Guarantee Foundation to alleviate the financial difficulties of small business owners struggling due to the novel coronavirus infection (COVID-19).

Through special contributions from Hana Bank and Yongin City, the Gyeonggi Credit Guarantee Foundation will provide customized special guarantees worth 10 billion KRW, enabling small business owners in the Yongin area to receive loan support through Hana Bank.

The agreement ceremony held at Yongin City Hall the day before was attended by Ahn Young-geun, Executive Vice President of Hana Bank's Central Sales Group 1, Baek Gun-gi, Mayor of Yongin, and Lee Min-woo, Chairman of the Gyeonggi Credit Guarantee Foundation, reaffirming their commitment to actively support local small business owners affected by COVID-19.

Ahn Young-geun, Executive Vice President, stated, “Through the special guarantee agreement jointly contributed by Yongin City, we hope to provide practical help to small business owners in the Yongin area who are struggling due to reduced consumption. We will continue to strive to develop various products and services to strengthen the competitiveness of small business owners and fulfill the social responsibility of financial institutions.”

Meanwhile, Hana Bank operates dedicated COVID-19 financial support counters at all branches. It provides emergency management stabilization funds up to 400 billion KRW in total, with a maximum of 500 million KRW per company for medium-sized, small and medium enterprises, and individual business owners. Additionally, when existing loans reach maturity or installment repayment dates, repayment can be deferred for up to one year without principal repayment, and interest rate reductions of up to 1.3 percentage points per annum are also supported.

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