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Finance

Hana Bank launches 5.5 percent mid-rate loan for mid-to-low credit borrowers

Hana Bank launched an online-only mid-rate unsecured loan aimed at improving access to finance for mid-to-low credit borrowers. The product applies a fixed annual interest rate of 5.5 percent and offers a maximum limit of 10 million won, targeting customers in the bottom 50 percent of personal credit scores. Hana Bank plans to supply 2 trillion won of the loans and said the design helps borrowers plan repayments without rate volatility.

Industry

SK says it created 32.2 trillion won in social value last year

SK said it has measured social value in monetary terms for eight consecutive years, creating a cumulative 155 trillion won. It said last year’s social value reached 32.2 trillion won, nearly doubling from 2018 when it began measuring. The company measures three areas: economic indirect contributions, environmental performance and social performance. It said environmental performance recorded a loss, while social performance rose for a third straight year.

Finance

Banks\' delivery apps and budget mobile services emerge as data for inclusive finance credit scoring

Banks\' non-financial businesses such as delivery apps and budget mobile services are drawing attention as infrastructure for alternative credit scoring to support inclusive finance. The push reflects growing demand to assess small merchants, young workers and freelancers who lack sufficient financial transaction history. Shinhan Financial Group, KB Kookmin Bank and others are applying non-financial data such as orders, sales flows and telecom bill payments to broaden lending, while financial authorities discuss reforms to expand alternative credit evaluation.