Hana Bank Completes Execution of 346.7 Billion KRW Livelihood Finance Support

Hana Bank: "All Disbursements to Be Completed by the First Half of This Year"

Hana Bank announced on the 31st that it has completed a cumulative total disbursement of 346.7 billion KRW by January this year, combining 199.9 billion KRW from the common program and 146.8 billion KRW from the autonomous program, part of the 355.7 billion KRW livelihood financial support plan announced in January last year.

First, the bank completed disbursing 199.9 billion KRW for the common program of the banking sector's livelihood financial support plan, which is the cashback on interest for loans to individual business owners. Additionally, as part of the autonomous program, it contributed 61.2 billion KRW to the Korea Inclusive Finance Agency, 14 billion KRW to regional credit guarantee foundations to revitalize the local economy, and supported 14.8 billion KRW for guarantee fees to the Korea Credit Guarantee Fund, Korea Technology Finance Corporation, and Korea Trade Insurance Corporation, including support for low-interest refinancing loans.

Furthermore, to reduce costs for small business owners struggling due to high interest rates, high inflation, and delayed domestic demand recovery, the bank provided 30 billion KRW for energy living expenses, and 10 billion KRW for replacing high-efficiency energy and digital transformation devices, workplace environment improvements, and total solution consulting. It also supported monthly franchisee reporting agency fees, smart payment device purchase costs, and customized consulting fees.

In addition, to support the recovery of financially vulnerable groups who are unable to obtain credit cards due to credit rating declines following debt adjustment by the Credit Recovery Committee, Hana Bank has partnered with the Credit Recovery Committee and Hana Card to issue cards to those who have faithfully repaid their credit recovery, and is also supporting public loans, interest cashback, office rent for youth startups, and e-commerce settlement receivables factoring.

A Hana Bank official stated, "We plan to complete all disbursements by the first half of 2025, and will promptly implement the 'Small Business Support Plan' jointly announced by the banking sector in December 2024 according to schedule, practicing swift and sincere win-win finance for financially vulnerable groups."

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