Shinhan Financial Group Supports Humanitarian Emergency Relief Efforts in Ukraine

Shinhan Financial Group and KOICA Provide Proactive Support under Emergency Relief Agreement for Overseas Disasters
Relief Efforts for Ukrainian Refugees Including Temporary Shelter and Emergency Daily Necessities Support

[Image source=Yonhap News]

[Asia Economy Reporter Sim Nayoung] Shinhan Financial Group announced on the 17th that it will provide emergency relief funds worth $200,000 (approximately 250 million KRW) to Ukrainian refugees suffering from the war.

Shinhan Financial, together with KOICA (Korea International Cooperation Agency), plans to provide temporary shelters for about 24,000 child and female refugees in the Poland region bordering Ukraine through domestic private organizations, and supply emergency daily necessities such as food and hygiene products needed during their stay.

As part of a public-private cooperation project with KOICA, Shinhan Financial has allocated a special budget for emergency relief in response to overseas disasters and has continued humanitarian aid worth about 200 million KRW annually since 2019.

Cho Yong-byeong, Chairman of Shinhan Financial Group, said, "Through this emergency relief activity, I hope to offer some help to Ukrainian refugees who have lost their homes overnight and are suffering from the war," adding, "Shinhan Financial will continue to do its best to fulfill its social responsibility by providing humanitarian aid to regions suffering from unexpected disasters."

Since the 7th, Shinhan Bank has been providing financial support totaling 300 billion KRW to companies affected by the Ukraine situation, including installment repayment deferrals and maturity extensions for existing loans, and loan interest rate reductions of up to 1.0%p.

Additionally, since the 2nd, a ‘Financial Difficulty Reporting Center’ related to the Ukraine situation has been established to receive financial difficulty reports from affected companies and offer consultations on payment and exchange rate issues.

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