Shinhan Bank is making a special contribution to help SMEs suffering from financial difficulties.
On March 6, Shinhan Bank announced that it made a contribution of six billion won — five billion won in a special contribution and one billion won in guarantee fee support — to the Korea Technology Credit Guarantee Fund in an effort to provide financial support for small and medium-sized enterprises (SMEs) in need of funds.
The special contribution consists of four billion won for SMEs in the 12 national strategic technology industries selected by the Korean government, one billion won for SMEs in the defense industry, and one billion won in guarantee fee support.
Shinhan Bank will focus on supporting vulnerable SMEs in these industries together with the Korea Technology Credit Guarantee Fund.
The 12 national strategic technology industries selected by the government are the semiconductor and display, rechargeable battery, high-tech mobility, next-generation nuclear power plant, advanced biotechnology, aerospace and marine, hydrogen, cybersecurity, artificial intelligence, next-generation communication, advanced robotics and manufacturing and quantum industries, which have a large ripple effect and determine the growth of the country’s core interests.
The Korea Technology Credit Guarantee Fund issues guarantees to support loans to SMEs through specially allocated financial resources, and Shinhan Bank provides working capital totaling 200 billion won to the SMEs using the guarantees as collateral.
Shinhan Bank also launched a dedicated loan product for this financial support.
“We will provide strong financial support to SMEs in the 12 national strategic technology industries,” a Shinhan Bank official said.
“In the future, we will contribute to the development of the strategic industries by establishing a close cooperation system with the Korea Technology Credit Guarantee Fund.”
Financial Fraud Prevention Education for Foreign Students Studying in Korea
Shinhan Bank announced on February 28 that it held a financial fraud prevention education class for foreign students at Hanyang University in Seoul, together with the Financial Supervisory Service (FSS) of Korea as the first activity of the Financial Fraud Response Task Force.
The Financial Fraud Response Task Force which was launched on February 27 is led by the Financial Supervisory Service, involving 19 banks and 13 financial associations and central associations.
It prepared measures to counter various financial frauds, including voice phishing and is promoting the implementation of the measures.
The education and awareness program against financial swindlers was held for foreign freshmen students at Hanyang University and new graduate students of its graduate school.
It focuses on important and essential knowledge to prevent financial fraud, teaching them about illegal foreign currency exchanges within chatting apps, cautions against abnormal part-time jobs such as the collection of cash for phishers, and reminds them not to forget to close their bank accounts before returning to their home countries.
Shinhan Bank plans to gradually expand financial fraud prevention education programs for foreign students by expanding the programs to other colleges and universities and graduate schools after Hanyang University and its graduate schools.
Spreading Savings Culture Among Minors
Shinhan Bank announced on March 10 that it open the Little Shinhan Care Platform to spread a savings culture among youth and increase the convenience of their financial transactions.
Little Shinhan Care is a new platform that provides various services such as an fetus registration service, an advanced application for minors and information about customized products for children, special vouchers for children and teenagers, gift-related services, and the issuance of Shinhan Meme Card. Customers can use these services with Shinhan SOL Smartphone Application.
Among them, the fetus registration service allows prospective parents to register their unborn child’s due date and name, etc. to receive notification texts before and after the birth date, and to fill out necessary information for an account registration in advance to start financial transactions conveniently.
Shinhan Bank will provide vouchers of up to 50,000 won to parents who use the service to open an account in their child’s name.
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