Hana Bank expands financial support for steel buyers and social enterprises

Hana Bank, Hana Card, and Dongkuk Steel have entered into a supply chain finance agreement to support approximately 3,000 purchasing companies using Dongkuk Steel’s online platform, ‘Steel Shop’. The partnership aims to implement a ‘one-transaction’ system by the fourth quarter of this year, allowing companies to automate the process from loan execution to payment settlement through a single click. To reduce the financial burden on these businesses, the companies will offer preferential interest rates.

Additionally, Hana Bank has signed an agreement with the Korea Credit Guarantee Fund to provide 20 billion won in guarantees for social economy enterprises, including cooperatives and village enterprises. The bank will support these entities by covering 0.5 percentage points of their annual guarantee fees for three years. Hana Bank is also operating the ‘Hana Social Economy Enterprise Growth Dream Loan’, a special product with a total limit of 500 billion won designed to provide preferential rates to enterprises with low credit or insufficient collateral.