Hana Financial Group Donates 1 Billion KRW for Heavy Rain Damage Recovery... Financial Support Including Interest Reduction

[Asia Economy Reporter Kim Min-young] Hana Financial Group is providing financial support to companies and individuals affected by the heavy rain.

Hana Financial announced on the 6th that it will donate 1 billion KRW to quickly restore areas damaged by the nationwide heavy rain during this monsoon season and actively provide financial support for affected companies and individuals at the group level.

The donation will be given to organizations such as the National Disaster Relief Association and used for disaster relief supplies and recovery of flood-affected areas.

Kim Jung-tae, Chairman of Hana Financial, stated, “Warm attention and help are needed for our neighbors suffering from damage caused by the nationwide heavy rain. We will do our best to quickly restore the affected areas and help those affected return to a stable life as soon as possible.”

Financial support will also be provided by Hana Financial’s affiliates.

Hana Bank will provide new emergency management stabilization funds up to 500 million KRW per company without a total limit to small and medium-sized enterprises, mid-sized companies, and individual business owners. In addition, when existing loans mature, the bank will support extending the loan maturity for up to one year without principal repayment and defer installment repayments for up to six months.

For affected corporate customers, interest rate reductions of up to 1.3 percentage points will be supported, and individuals will receive interest rate cuts of up to 1.0 percentage point on new or extended household loans.

Hana Card will allow customers affected by the heavy rain to defer credit card payments (lump sum, installment, card loan, cash service) for up to six months starting from the month of application. During the deferral period, installment interest and card loan interest will not be charged, and even if payments are overdue, debt collection will be suspended for up to six months with installment repayment options available.

Hana Capital will also accept damage cases through its call center and plans to defer principal repayments for six months and reduce interest accordingly.

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