Hana Bank said on Jan. 27 it will execute early a 40 billion won special contribution to regional credit guarantee foundations and provide 600 billion won in financial support to help revitalise regional economies and ease funding burdens for small merchants and self-employed people.

The amount is more than seven times larger than the 83 billion won in guarantee loans supplied in the same period last year. Hana Bank has sharply strengthened financial support since January, focusing on provincial regions including Yeongnam, Chungcheong and Honam, to respond pre-emptively to economic fluctuations and funding demand. It has established a system to help local small merchants and self-employed people receive financial support more quickly.

In particular, the early execution of the 40 billion won special contribution is expected to supply 150 billion won in guarantee loans to the Yeongnam region, including 94.5 billion won for the Busan area. Hana Bank plans to continue expanding the supply of guarantee-backed loans centered on provincial regions to move away from a financial support structure concentrated in the Seoul metropolitan area and support balanced regional growth.

Hana Bank also recorded the largest performance among commercial banks for three consecutive years from 2023 in the scale of guarantee loans supplied in partnership with regional credit guarantee foundations. It has continued to expand guarantee resources in a rapidly changing financial environment, contributing to improved financial access for small merchants with low creditworthiness or insufficient collateral and to regional economic stability.

Seo You-seok (서유석), a deputy head of Hana Bank's Corporate Group, said, "Since the start of this year, we have been strengthening the supply of funds linked to regional credit guarantee foundations and substantially easing the financial burden on local small merchants through a swift special contribution." He added, "Hana Bank will continue to support balanced regional growth and will spare no effort in support as a reliable financial partner that grows together with small merchants."