Hana Financial Group expands inclusive finance with 3 trillion won support package

Hana Financial Group announced on May 28 its plan to supply 3 trillion won in specialized financial products aimed at supporting vulnerable populations, including low-to-mid credit individuals and small business owners, as part of its efforts to resolve financial polarization. Key initiatives include the launch of 'Hana 1Q Mid-Interest Rate Loan' by Hana Bank in June, offering 2 trillion won in loans to individuals with credit scores in the bottom 50%. These loans will have a fixed annual interest rate of 5.5% with a maximum limit of 10 million won, available until the end of the year. Additionally, Hana Bank will provide 1 trillion won through the 'Hana Plus Soho Success Ladder Loan' for small business owners who have consistently repaid their loans. Eligible individuals can receive unsecured credit loans up to 10 million won with an interest rate as low as 4.5% annually, with all mid-term repayment penalties waived. To alleviate the burden on debtors, Hana Financial Group will proactively write off 200 billion won (approximately 14,000 accounts) of overdue loans before their statute of limitations expires in June. This includes personal financial claims under 50 million won that have passed five years since being incorporated into special claims. Hana Bank and Hana Insurance are also launching the 'Youth Guardian Jeonse Scam Protection Insurance' for young adults. This insurance will be provided free of charge to 30,000 young individuals applying for Jeonse (lump-sum deposit) home loans, covering losses due to rental deposit fraud caused by illegal actions of landlords or agents, or document forgery.