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2 clusters · 4 sources · 8 days · First seen · Last updated

Shinhan Financial Group small business support initiatives

Overview

Shinhan Financial Group has implemented several initiatives to support small business owners in South Korea.

Initially, the group launched a joint campaign with the Financial Services Commission, the Financial Supervisory Service, and the Korean National Police Agency to combat ‘no-show fraud’. This fraud involves perpetrators impersonating institutions to place large orders and then demanding advance payments. As part of this effort, Shinhan EZ Insurance introduced a compensation program for approximately 150,000 merchants using the ‘Ddaenggyeo’ delivery platform, offering up to 3 million KRW for confirmed fraud.

Following this, the group expanded its support through a partnership with Gangwon State. This collaboration includes an 18 billion won management stability fund to provide loans to roughly 600 small business owners. Additionally, Shinhan Financial Group conducted a holiday campaign using Onnuri gift certificates to support traditional markets, and Shinhan Bank announced reduced brokerage fees for local merchants via its ‘Ddanggyeo-yo’ delivery app.

Entities

Shinhan Financial Group · Woowa Brothers · Financial Supervisory Service · Gangwon State · Shinhan Bank

Timeline

  1. [BUSINESS] 2 sources
    Shinhan Financial and Gangwon State launch small business support initiatives

    Shinhan Financial Group and Gangwon State are implementing various support programs, including financial aid and platform partnerships, to revitalize traditional markets and assist small business owners.

  2. [BUSINESS] 2 sources
    Shinhan Financial Group launches campaign to prevent small business no-show fraud

    Shinhan Financial Group, South Korean financial authorities, and police are launching a campaign to combat ‘no-show fraud’ against small businesses, offering free insurance to 150,000 merchants.

Sources

biz.heraldcorp.com · idsn.co.kr · joseilbo.com · seoul.co.kr