Hana Bank Provides 2 Trillion KRW Liquidity Support for Exporting Small and Medium Enterprises

Business Agreement Signed for the '2nd Export Package Preferential Financing' with Korea Trade Insurance Corporation

▲On the morning of the 16th, Lee Ho-sung, CEO of Hana Bank (right), and Jang Young-jin, President of Korea Trade Insurance Corporation, are holding a business agreement and posing for a commemorative photo at the Euljiro headquarters in Seoul.
[Photo by Hana Bank]

Hana Bank announced on the morning of the 16th at its Euljiro headquarters in Seoul that it has signed a business agreement with the Korea Trade Insurance Corporation to implement the '2nd Export Package Preferential Financing' program to support liquidity for export small and medium-sized enterprises (SMEs) and mid-sized companies facing difficulties due to high interest rates and economic slowdown.

The 'Export Package Preferential Financing' is a financial support program operated by the Korea Trade Insurance Corporation in collaboration with seven commercial banks. Hana Bank was the only commercial bank in 2024 to fully utilize the first tranche limit of 510 billion KRW under this program.

Through this business agreement, Hana Bank will provide an additional 700 billion KRW in export financing (including guarantee fee support) by making a second special contribution of 30 billion KRW to the Korea Trade Insurance Corporation, following the first tranche of 510 billion KRW in 2024.

In addition, Hana Bank will support a total liquidity of 2 trillion KRW through its own products, including a special loan 'Export-Import Hana Loan' worth 1 trillion KRW and a 300 billion KRW 'Temporary Special Interest Rate Support' program for small business owners and SMEs.

With this Hana Bank '2nd Export Package Preferential Financing' program, many SMEs and mid-sized companies meeting the export credit guarantee support requirements will be able to receive practical financial benefits to resolve funding difficulties, such as ▲100% support for guarantee and insurance fees ▲loan interest rate reductions ▲preferential foreign exchange fees.

Furthermore, in addition to export credit guarantees, SMEs engaged in manufacturing (materials, parts, and equipment) with import customs clearance records can receive the same benefits of import payment financing support through import insurance issuance and 100% insurance fee support.

Through this, Hana Bank expects to contribute to the increase of South Korea's exports and strengthen the foundation for co-growth with export companies by continuously and timely supporting management stabilization funds and financial costs for export SMEs and mid-sized companies with growth potential.

Lee Ho-sung, CEO of Hana Bank, stated, "This '2nd Export Package Preferential Financing' program was prepared to provide more diverse and prompt financial support that export companies, which have been continuously struggling due to rapid exchange rate fluctuations and high inflation, truly need." He added, "We will continue to collaborate with the Korea Trade Insurance Corporation to be a reliable partner for export companies."

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