[Evolving CSR] Hana Card Supports Socially Vulnerable Groups Including Low-Income Children and People with Disabilities

Warm Management Initiatives by Card Companies ⑦ Hana Card
Supporting Children in Housing Poverty
Sponsoring Green Umbrella Children’s Foundation
Issuing ESG Bonds Worth 200 Billion KRW

[Editor's Note] The methods of social contribution by card companies are evolving. As the emphasis on corporate social responsibility grows for sustainable management, including non-financial factors such as environment, society, and governance beyond financial indicators, social responsibility is becoming more prominent in financing, and the scope of social contribution is expanding to children and youth, local communities, natural environment, and culture and arts. Especially this year, card companies are conducting various social contribution activities, including financial support for financially vulnerable groups facing crises due to the COVID-19 pandemic, as well as marketing analysis using big data. Asia Economy presents a series on the social contribution activities of individual card companies leading warm management.

Jang Kyung-hoon, President of Hana Card (right), is taking a commemorative photo with Lee Je-hoon, Chairman of the Green Umbrella Children's Foundation (left), at the sponsorship donation ceremony held on the 22nd at the Green Umbrella Children's Foundation in Jung-gu, Seoul.

[Asia Economy Reporter Ki Hayoung] The main focus of Hana Card's social contribution activities this year was support for socially vulnerable groups struggling due to the COVID-19 pandemic. This month, Hana Card donated 320 million KRW to the Green Umbrella Children’s Foundation to improve housing and medical welfare for children from low-income families in need of help due to COVID-19.

The donation will be used for the COVID-19 overcoming project "From One to 100" social contribution program. It plans to provide housing environment improvements and rent support for 20 housing-poor children’s families in LH and SH public rental housing, as well as medical expenses, medical aids, and psychological treatment costs for 80 families with sick children. The program is scheduled to operate throughout next year, aiming to provide a stable nurturing environment through emergency support for children from low-income families.

Hana Card also issued Environment, Social, and Governance (ESG) bonds to create various social values such as financial support for small and micro merchants. Last month, Hana Card successfully issued ESG bonds worth 200 billion KRW in line with Hana Financial Group’s efforts to strengthen ESG value management. The bonds include 70 billion KRW with a 3-year maturity, 70 billion KRW with a 4-year maturity, and 60 billion KRW with a 4.5-year maturity, and received management system certification from Deloitte Anjin Accounting Corporation, an ESG qualified certification body.

Since the ESG bonds were issued entirely as long-term bonds with maturities of over three years, the funds will be used as stable capital to create social value, including financial support for small and micro merchants, financial support for vulnerable customers affected by disasters and accidents, startup company support projects, and financial services related to eco-friendly transportation.

Hana Card is also strengthening efforts to revitalize the social economy. To solve employment issues for people with developmental disabilities and support social innovation companies, Hana Card is participating in social economy revitalization programs promoted by Hana Financial Group, such as "Hana Power On Challenge," "Hana Power On Impact," and "Hana Social Venture Academy."

For mobility support for people with disabilities, Hana Card is developing services using its big data. Hana Card is forming a consortium with five institutions and companies, including the Korea Institute of Science and Technology Information (KISTI) and Daejeon City, to build a "MyData-based Mobility Support Transportation Service Platform for People with Disabilities." The platform will provide customized route searches and mobility support services for transportation-vulnerable individuals and will also integrate Hana Card’s mobile payment service within the platform.

A Hana Card official said, "In line with Hana Financial Group’s mission of 'Growing Together and Sharing Happiness,' we have been practicing corporate social responsibility for socially vulnerable groups in small but meaningful ways," adding, "We will continue to carry out various social contribution activities for the joy of all."

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