Hana Financial Group has launched a comprehensive new inclusive finance roadmap, providing significant financial support for small-business owners and low-credit customers. The initiative, unveiled Thursday, includes 3 trillion won ($2 billion) in new loans and vital debt relief measures targeting long-term delinquent borrowers.
This strategic roadmap is built upon three core objectives: actively reducing financial disparities, empowering vulnerable borrowers to achieve financial independence, and substantially expanding the foundational infrastructure for inclusive finance solutions.
As part of this commitment, Hana Bank is set to introduce a specialized loan product in June. This offering is specifically designed for low- and mid-credit borrowers, encompassing those whose credit scores fall within the bottom 50 percent. Qualified applicants can access up to 10 million won per borrower, benefiting from a competitive fixed annual interest rate of 5.5 percent, available until the end of this year.
Furthermore, Hana Financial Group will roll out a 1 trillion won support program tailored for self-employed small-business owners who demonstrate consistent repayment records. This program offers eligible individuals up to 10 million won each at attractive annual rates as low as 4.5 percent, with an added benefit of waiving early repayment fees to encourage financial flexibility.
To assist long-term delinquent borrowers in their journey towards financial recovery, Hana plans a substantial write-off of 200 billion won in overdue receivables this June. This measure will cover personal special claims up to 50 million won that have been overdue for over five years, alongside portions of the remaining principal and interest on guaranteed loans previously repaid by guarantors.
Hana is also enhancing its alternative credit evaluation system for individuals with limited financial histories. This innovative approach will leverage diverse data points, including telecommunications information and mobile micropayments, to provide a more inclusive assessment of creditworthiness.
Hana Financial Group Chairman Ham Young-joo emphasized the deeper meaning behind these initiatives, stating, “Inclusive finance is not merely a donation or temporary support; it is a sincere calling that embodies the true purpose of finance by bringing warmth to the lives of ordinary people. We are dedicated to eliminating financial blind spots through a fundamental transformation in inclusive finance, moving beyond temporary fixes.”
Building on previous commitments, Hana Financial announced its ‘Hana Growth for All Project’ in October, a five-year plan aiming to deliver 84 trillion won in productive finance and 16 trillion won in inclusive finance by 2030. Hana confirmed Thursday that as of April, it has already executed 1.3 trillion won against this year’s 3.1 trillion won inclusive finance target, demonstrating remarkable progress by reaching 42 percent of the goal ahead of schedule.
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