Hana Bank and Naver Pay launch 68.75 billion won guarantee program for Seoul businesses

Hana Bank, Naver Pay, and Naver have partnered with the Seoul Credit Guarantee Foundation to provide approximately 68.75 billion won in credit guarantees to support small business owners and young entrepreneurs in Seoul.

To fund this initiative, Hana Bank and Naver/Naver Pay will contribute a total of 5.5 billion won to the foundation. The program specifically targets businesses within Seoul's designated ‘Moonlight Night Market’ districts, entrepreneurs who have been in business for less than seven years, and merchants using Naver Pay Connect terminals. These priority groups may receive preferential credit limits of up to 130% of existing bounds.

The special guarantees offer up to 100 million won per business with a maximum term of five years. The initiative also aims to reduce financial burdens through integration with Seoul's interest subsidy programs. Additionally, Hana Bank and Naver Pay have donated 10 million won to the Sangbong Food Alley Merchants Association to support local commercial environment improvements and marketing efforts.