Hana Bank Partners with China's Alibaba to Support Domestic Export Companies
Providing Export Finance, Foreign Exchange Fees, and More
Sung Young-su, Vice President of Hana Bank CIB Group (right), is taking a commemorative photo with Jung Hyung-kwon, CEO of Alibaba Korea, after signing a business agreement to support domestic export companies on the 28th of last month. (Photo by Hana Bank)
View original image[Asia Economy Reporter Minwoo Lee] Hana Bank has partnered with the e-commerce platform 'Alibaba.com,' which has over 300 million global member companies, to support domestic export companies with export financing and various fee discounts.
Hana Bank announced on the 2nd that it has signed a business agreement with Alibaba.com to support domestic export companies.
Accordingly, Alibaba.com will provide various benefits to companies that pay with Hana Card when subscribing to a paid membership, including ▲ discounts on Alibaba.com paid membership ▲ support for product posting and store design ▲ advertising services to optimize product exposure when buyers search for products ▲ qualification to participate in Alibaba.com headquarters training, among others.
Additionally, Hana Bank will offer financial benefits to domestic export companies that are Alibaba.com membership members, including ▲ export financing support ▲ preferential foreign exchange fees and rates ▲ guarantee loans in cooperation with the Korea Technology Finance Corporation.
Jung Hyung-kwon, CEO of Alibaba Korea, who attended on behalf of Alibaba.com, stated, "We plan to accelerate investment in the Korean market so that more Korean products can be supplied to global buyers through Alibaba.com."
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Sung Young-soo, Vice President of Hana Bank's CIB Group, said, "B2B e-commerce platforms will provide solutions to realize the digitalization of manufacturing," adding, "We will continue to collaborate to activate global B2B e-commerce platforms and provide Hana Bank's specialized trade finance services to user companies."
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