"Innovative Financial Support for Small Business Owners"… Hana Financial Partners with Coupang

Support for Fast Settlement of Sales Proceeds and Consulting Services

Hana Financial Group is partnering with Coupang to provide various financial services to small business owners. They will launch a service that enables rapid settlement of sales proceeds and offer various consulting and import-export financing services.

On the 13th, Hana Financial Group announced that its major affiliates, Hana Bank and Hana Card, signed a business agreement with Coupang and Coupang Pay. The purpose is to provide innovative digital financial services in a safe and convenient environment for small business owners struggling due to economic slowdown and prolonged high interest rates.

Under this agreement, the four companies will cooperate to support small business owners by jointly planning digital financial products and services, providing innovative financial services, and supporting the development of import-export markets.

As the first case, the 'Seller Wallet Fast Settlement Service' will be available from today on Coupang's seller-exclusive app. This service, newly designated as an innovative financial service by the Financial Services Commission in September, allows sellers on the Coupang Marketplace to check sales and expenditure details, open accounts, and use financial services such as account transfers through the seller-exclusive app. Using a seller-exclusive bank account and check card enables rapid settlement of sales proceeds.

At the signing ceremony, Park Yoon-kyu, Vice Minister of the Ministry of Science and ICT, expressed his gratitude, saying, "I would like to thank Hana Financial Group and Coupang for taking the lead in platform win-win cooperation, such as the introduction of this Seller Wallet Fast Settlement Service, which dramatically solves the problem of sales proceeds settlement that small business owners have struggled with."

Lee Seung-yeol, President of Hana Bank, said, "With this agreement, we have pioneered a new financial environment within the business platforms used by customers, beyond the traditional fields of finance and fintech. We will take the lead in achieving our shared goal of providing innovative financial services and supporting the growth of small business owners."

Lee Seung-yeol, CEO of Hana Bank (third from the left), and Lee Ho-sung, CEO of Hana Card (fourth from the left), signed the "Innovative Financial Services Business Agreement for Coexistence with Small Business Owners" on the 12th at Coupang headquarters in Songpa-gu, Seoul, and took a commemorative photo with Kang Han-seung, CEO of Coupang (second from the left), and Vijay Iyer, CEO of Coupang Pay. (Photo by Hana Financial Group)

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