Hana Bank Launches Special Loan of 1.5 Tln Won for Korean Exporters and Importers

President Lee Ho-sung of Hana Bank. (Photos: Hana Bank)

Hana Bank announced on Nov. 5 that it will launch a special loan program dubbed “Overcoming Tariffs with Hana” to stabilize the operations of export-import companies facing direct and indirect losses from US reciprocal tariffs.

This program is an expanded and revamped version of Export-Import Hana Loan which Hana Bank launched in October 2023 to foster win-win growth with Korea’s export and import companies.

The program will provide a total of 1.5 trillion won in funding, adding 500 billion won to the special limit of Export-Import Hana Loan.

Companies with records of exports and imports, and even those without, can apply as long as the latter possess trade identification numbers.

Hana Bank has expanded the loan’s eligibility to include not only general loans but trade bill loans and guarantee-backed loans.

The program is expected to provide substantial support to Korean export and import companies struggling due to tariffs, by offering additional interest rate cuts to them that meet certain criteria such as those exporting to the United States or those seeking to diversify their export markets.

To provide rapid, on-site support, Hana Bank has established Tariff Response and Financial Support Consultation Desks at its branches nationwide, offering consultations and support.

It also operates the On-Site Consulting Service, through which Hana Bank experts visit companies to provide consultations.

Earlier in October, Hana Financial Group set up the Economic Growth Strategy Task Force with participation from all of its affiliates and announced the Hana All Growth Project.

Thr project will invest 100 trillion won by 2030 in supporting companies affected by tariffs, productive finance and inclusive finance.

On Nov. 3, Hana Bank signs a business agreement for active senior support with Hana Card and Hana Tour at the Hana Bank headquarters with the attendance of officials from Hana Bank, Hana Card and Hana Tour.

Customized Support for Active Seniors

Hana Bank announced on Nov. 4 that it signed a business agreement for active senior support with Hana Card and Hana Tour at its headquarters in Seoul, on Nov. 3.

The agreement combines Hana Bank’s financial expertise, Hana Card’s payment platform capabilities, and Hana Tour’s travel content planning expertise to provide an integrated financial and travel lifestyle service for active seniors.

The agreement marked the first time that financial, travel, and payment services are integrated for senior citizens.

Various collaborative programs will be sequentially implemented including regular travel seminars held within Hana Bank’s Hana The Next Lounge; customized Hana Tour travel packages for senior citizens, discounts and reward points for travel purchases made with credit cards of Hana Card and joint online and offline marketing campaigns targeting active seniors.

Hana Bank plans to actively support services for active seniors, enabling them to enjoy a more relaxed and fulfilling second act of life through Hana Financial Group’s senior-specialized brand, “Hana The Next” which offers specialized financial solutions on retirement planning, inheritance, and gifting.

Promotion of Inheritance Donation Culture with Doctors without Borders Korea

Hana Bank announced that it signed a business agreement with Doctors without Borders Korea at the bank’s headquarters to promote a culture of inheritance donation on Oct. 2.

This agreement aims to foster a culture of sharing and promote social responsibility and humanitarian values by promoting a culture of inheritance donation.

Hana Bank will utilize trusts such as will-in-lieu trusts to design trusts optimized for each donor’s asset profile, ensuring that donors’ wishes will be promptly and accurately executed.

Doctors without Borders Korea will leverage Hana Bank’s trust platform to enable inheritance donors to participate in life-saving humanitarian efforts.

Furthermore, the two organizations will establish a close cooperative system including the joint operation of an inheritance donation consultation program, the promotion of trusts and case studies and collaboration on humanitarian medical relief campaigns.

“Hana Bank hopes that the warm hearts of those who donate their inheritances will lead to humanitarian medical relief activities and help many people in need,” a Hana Bank official said. “We will continue to strive to create a better society while faithfully playing our original roles.”