Hana Bank Provides Special Financial Support of 500 Million KRW to Skilled SMEs

[Asia Economy Reporter Kim Min-young] Hana Bank has stepped up to help small and medium-sized enterprises (SMEs) overcome crises.

On the 17th, Hana Bank announced that it will provide special financial support to SMEs conducting research and development (R&D) in collaboration with the Small and Medium Business Technology Information Promotion Agency to help them overcome the challenges posed by the novel coronavirus disease (COVID-19) crisis.

Since being selected by the Ministry of SMEs and Startups in 2017 as the ‘Dedicated Bank for SME R&D Commercialization Projects,’ Hana Bank has continuously offered low-interest financial support to companies that have successfully carried out SME R&D projects to commercialize new technologies and new products.

In particular, this year, Hana Bank will newly provide special management stabilization funds of up to 500 million KRW per company, with a total limit of 110 billion KRW, to SMEs conducting R&D who are facing difficulties due to the impact of COVID-19, offering preferential interest rates of up to 1.83% per annum.

A Hana Bank official stated, “We will continue to work closely with the Small and Medium Business Technology Information Promotion Agency to do our best so that SMEs can focus on technology development.”

This special fund can be applied for through the Ministry of SMEs and Startups’ Technology Development Project Integrated Management System, and the Small and Medium Business Technology Information Promotion Agency will accept applications on an ongoing basis until the support limit is exhausted.

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