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Finance

Hana Financial Group\'s SMART student ambassadors total 1,110 graduates as 20th cohort ends

Hana Financial Group\'s university student external activity programme, the SMART ambassadors, has completed its 20th cohort, bringing total graduates to 1,110. Hana Financial said it held a closing ceremony on Aug. 28 at its Myeong-dong building in Seoul. The 20th cohort had 50 participants. This year, 1,642 applicants competed at about 33 to 1. Activities included marketing, social contribution work and volunteer projects, the group said.

Finance

Hana Bank expands support for small merchants with mid-to-low credit in Incheon with 91.5 billion won guarantees

Hana Bank will expand financial support for small merchants with mid-to-low credit in Incheon. The bank said on Aug. 27 it will make an additional 500 million won special contribution to the Incheon Credit Guarantee Foundation and strengthen inclusive finance support for local small business owners. The move expands a financial support programme launched in March. The bank’s contributions this year will rise to 6 billion won, and agreed guarantees via the foundation will increase to 91.5 billion won.

Finance

Household loan cap raised to 3 percent; scraping to be phased down

South Korea’s financial authorities loosened parts of their household loan management stance by raising this year’s lending growth target to 3 percent from 1.5 percent and planning 47.8 trillion won-plus in housing supply finance support. The move is expected to expand banks’ annual capacity for household loans to around 60 trillion won. Authorities also agreed not to block scraping all at once, opting to phase it down while preparing alternatives such as public MyData.