Shinhan Card "One-Month Fee Waiver for Small Merchants Affected by Heavy Rainfall"

Interest-Free Installments and Cash Rebates Available for Home Appliance Purchases

Shinhan Card will provide fee waivers and various financial supports to small merchants affected by the recent heavy rains.

On the 24th, Shinhan Card announced that it will implement this 'Special Disaster Area Financial Support Program' until the end of next month in line with the government's declaration of special disaster areas.

First, merchant fees will be waived for small merchants in the special disaster areas. The deposit cycle for merchant payments in all stores in the affected areas will also be shortened to D+1 (one day after the transaction date).

Small merchants in the special disaster areas are those registered as Shinhan Card small merchants on the day the special disaster area was declared. This support program will be automatically applied without any separate application process or consideration of flood damage.

Additionally, a customer-oriented support program within the special disaster areas will be operated. Customers affected by the disaster can receive extra benefits such as interest-free installments and cash rebates (cashback) when purchasing home appliances with Shinhan Card at LG Electronics stores, available until the end of August.

Meanwhile, Shinhan Card is also implementing billing deferral and installment repayment support for members affected by the heavy rains. For affected members, card payments will be billed in a lump sum after six months, and if it is difficult to pay at once, they can repay in installments over up to six months. If affected members are overdue, debt collection will be suspended for up to six months after application, and installment repayment will also be allowed. A 30% discount on interest rates for short- and long-term card loans used after the date of damage will also be applied.

Earlier, on the 19th, the Ministry of the Interior and Safety declared 13 cities, counties, and districts as special disaster areas due to the heavy rains, including ▲ Sejong Special Self-Governing City ▲ Cheongju and Goesan County in Chungbuk ▲ Gongju, Nonsan, Cheongyang, and Buyeo Counties in Chungnam ▲ Iksan in Jeonbuk, Yeongju, Mungyeong, Yecheon, and Bonghwa Counties in Gyeongbuk ▲ Juksan-myeon, Gimje City in Jeonbuk.

A Shinhan Card official said, "We hope this financial support will be of some help to the affected merchants and customers," adding, "We will continue to prepare various financial support programs to faithfully fulfill our role as a corporate citizen."

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