Shinhan Bank Signs Business Agreement on Win-Win Franchise Loan with Giheung Korea

Shinhan Bank Implements Win-Win Franchise Loan Utilizing Headquarters Joint Guarantee System
Headquarters Supports Successful Startup Consulting for Franchisees through Responsible Management Practices

On the 26th, after signing the 'Shinhan Bank - Giheung Korea Co., Ltd. Win-Win Franchise Loan Business Agreement' held at the Shinhan Bank headquarters located on Sejong-daero, Jung-gu, Seoul, Shin Yeon-sik, Vice President of Shinhan Bank Corporate Division (right), and Oh Yang-min, CEO of Giheung Korea Co., Ltd. (left), posed for a commemorative photo.

[Asia Economy Reporter Kangwook Cho] Shinhan Bank announced on the 27th that it has signed a business agreement for the 'Shinhan Win-Win Cooperation Franchise Loan' with Giheung Korea Co., Ltd., which operates the Kongppuri Jeonju Bean Sprout Soup franchise.

The 'Shinhan Win-Win Cooperation Franchise Loan' is a product that offers reduced interest rates to franchisees through joint guarantees by the franchisor, which was not available in existing franchise loans. It is significant as the first financial sector model pursuing a virtuous cycle of win-win cooperation between franchisees and franchisors.

Through this financial support plan, Shinhan Bank plans to expand win-win cooperation by practicing the bank's social responsibility and encourage such practices to actively support the successful start-up of franchisees.

Oh Yang-min, CEO of Giheung Korea Co., Ltd., said, "This will be a great help to franchisees and prospective entrepreneurs struggling with the economic downturn caused by COVID-19," adding, "Going forward, rather than simply expanding the number of franchise stores, we will take the lead in practicing responsible management through solid start-up consulting that directly handles everything from site selection to sales management."

Shin Yeon-sik, Deputy Head of the Corporate Division at Shinhan Bank, said, "We will strive to expand a virtuous cycle structure that can responsibly support franchisees by inducing sincere franchise support through joint guarantees by franchisors and providing interest rate reduction benefits," adding, "Shinhan Bank will continue to expand win-win cooperation through practicing social responsibility and actively support the successful start-up of franchisees."

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