Hana Bank Signs Agreement with K-Sure to Support Exporting SMEs
[Asia Economy Reporter Minyoung Kim] Hana Bank is stepping up to support small and medium-sized enterprises (SMEs) whose exports have declined due to the impact of the novel coronavirus disease (COVID-19).
On the 30th, Hana Bank announced that it has signed a business agreement with the Korea Credit Guarantee Fund to provide smooth liquidity support to SMEs struggling with decreased exports.
The bank explained that this agreement was made to align with the government's export enterprise support policies, to promptly provide operating funds, reduce the financial costs borne by companies, and establish a foundation for the co-growth of enterprises and banks.
Companies applying for guarantees will be able to receive practical financial benefits through Hana Bank's guarantee-backed loan product "With Loan Export Finance II," which is handled under this guarantee fee support agreement with the Korea Credit Guarantee Fund, including ▲ up to 0.3% guarantee fee deduction support from the Korea Credit Guarantee Fund ▲ an additional 0.4% guarantee fee support from Hana Bank ▲ loan interest rate reductions, preferential foreign exchange fees, and more.
Park Jihwan, Head of Hana Bank's CIB Group, stated, “Through active collaboration with the Korea Credit Guarantee Fund, we aim to promptly provide necessary funds to SMEs facing difficulties due to export declines and actively assist in reducing their financial costs.”
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Earlier in March, Hana Bank signed an agreement with the Korea Trade Insurance Corporation to support liquidity for export SMEs and mid-sized companies, encourage exports in the materials, parts, and equipment industry as well as emerging markets, and launched and is specially selling "With Loan Export Finance I," which supports guarantee fees for ‘Export Credit Guarantee (Pre-shipment)’ and ‘Export Credit Guarantee (Purchase)’ and reduces loan interest and foreign exchange fees.
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