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Finance

Hana Bank to support management solutions for 1,300 small businesses

Hana Bank will run a support programme aimed at easing management burdens and strengthening sales competitiveness for small businesses. The bank will recruit applicants for three weeks from June 11 and select 1,300 business sites. It will support purchases of energy-efficient equipment for 1,000 sites, offering up to 2 million won per site, and provide solutions to help 300 sites expand online sales channels, including platform entry, live commerce and crowdfunding support.

Industry

Onnuri gift certificates limited to affiliates with under 3 billion won in annual sales under draft rules

South Korea plans to limit the use of Onnuri gift certificates to affiliated small and medium-sized merchants with annual sales of 3 billion won or less. The SME ministry also proposed tougher penalties for illegal distribution, including fines of up to three times illicit gains. Health and veterinary services and legal, accounting and tax services would be barred from registration, while pharmacies remain allowed. The ministry will collect opinions through May 8.