Loan Interest Rate Discounts and Marketing Support... Hyundai Card's 600 Billion KRW Win-Win Finance Program

Hyundai Card and Hyundai Commercial Win-Win Financial Plan to Be Implemented from August

Hyundai Card and Hyundai Commercial will provide loan interest rate reductions and various marketing support to financially vulnerable groups.

On the 7th, Hyundai Card announced that it will implement a win-win finance support plan worth a total of 600 billion KRW with Hyundai Commercial starting next month.

First, Hyundai Card will support new loans for financially marginalized groups. For small business owners with an annual income of 25 million KRW or less, a maximum 20% discount on interest rates will be offered when applying for new loans. The loan limit per customer is 10 million KRW.

Hyundai Commercial will operate preferential purchase financing interest rates for small business owners among individual entrepreneurs in sales-declining and economically sensitive industries.

Support for commercial vehicle purchase financing will also be provided. Hyundai Card will refund 1% of the commercial vehicle payment amount in cash. When using card installments, interest-free and preferential interest rates will be offered. Hyundai Commercial will provide preferential interest rates on loans for purchasing used commercial vehicles and operating funds to customers with an annual income of 30 million KRW or less. Additionally, interest-free terms will be applied during business off-seasons.

Hyundai Card operates a low-interest refinancing program at an annual rate of 7.5% to normalize debts for vulnerable borrowers suffering from the triple hardships of low income, low credit, and multiple debts, and will launch a combined refinancing and debt reduction product. Hyundai Commercial will defer principal loan payments for customers experiencing business downturns and reduce up to 80% of the principal loan amount for borrowers who have closed their businesses.

Furthermore, Hyundai Card will lead marketing support for small business owners by providing sales and customer analysis services and offering data science-based targeted marketing tools free of charge.

These measures will be implemented starting next month. However, marketing support for small business owners is scheduled to begin in October.

A Hyundai Card and Hyundai Commercial official said, "We hope this win-win finance support plan will provide strength to various groups going through difficult times," adding, "We plan to continuously develop win-win finance support programs targeting financially vulnerable groups."

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