Hana Bank "200 Billion KRW Support for Exporting SMEs"... Business Agreement with Korea Technology Finance Corporation

[Asia Economy Reporter Kiho Sung] Hana Bank announced on the 8th that it has signed a "With Loan Export Finance III Business Agreement for Technology Finance Support to Export SMEs" with the Korea Technology Finance Corporation to provide liquidity support for overcoming the crisis to export SMEs experiencing management difficulties due to decreased export performance caused by COVID-19.

This business agreement was made to support working capital for export SMEs with technological capabilities and to reduce the financial costs borne by companies, thereby establishing a foundation for mutual growth between companies and banks.

Hana Bank's guarantee-backed loan program to help the innovative growth of export SMEs is the third such program following those in April and June last year. The current "With Loan Export Finance III," conducted jointly with the Korea Technology Finance Corporation, is carried out on a scale of 200 billion KRW.

The support targets include ▲companies with export customs clearance records in the Export-Import Statistics Information System ▲companies holding overseas direct export contracts (letters of credit) ▲SMEs recommended by Hana Bank (companies issuing import letters of credit, companies making overseas direct investments in New Southern countries). The support scope has been expanded not only to export SMEs but also to import SMEs and companies seeking direct investment in New Southern countries.

Export SMEs eligible for this support can receive various financial benefits through Hana Bank's guarantee-backed loan "With Loan Export Finance III," which is handled under a guarantee fee support agreement with the Korea Technology Finance Corporation, including ▲0.5% guarantee fee support from Hana Bank ▲0.2% guarantee fee reduction support from the Korea Technology Finance Corporation ▲loan interest rate reductions ▲preferential foreign exchange fees.

Park Jihwan, Vice President of Hana Bank's CIB Group, stated, "Through active collaboration with the Korea Technology Finance Corporation, we will timely provide the necessary funds to export SMEs struggling due to COVID-19 damage and reduce their financial cost burdens to offer practical help in business operations. Through this agreement, we will become a reliable partner supporting the innovative growth of SMEs leading exports."

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