Hana Bank is boosting its commitment to productive finance, pledging 5 trillion won ($3.5 billion) over the next three years in collaboration with K-Sure to support South Korean exporters. This initiative aims to strengthen the country’s export-driven economy.
The bank announced that a signing ceremony was held in Seoul on Wednesday, with attendees including Hana Bank CEO Lee Ho-sung, Trade Minister Kim Jung-kwan, and K-Sure CEO Jang Young-jin.
This agreement marks a strategic alliance between Hana Bank and K-Sure, the state-run trade insurer. Together, they plan to allocate 5 trillion won to productive financing initiatives over a three-year period. K-Sure, affiliated with the Trade Ministry, plays a vital role in implementing export support policies by offering trade insurance and financial assistance to small and medium-sized exporters (SMEs).
As part of the agreement, Hana Bank will introduce enhanced export financing options and expand guarantee programs. This will facilitate easier access to funding and reduced financing costs for SMEs through working capital loans and facility investment loans. The partnership will also focus on identifying overseas business opportunities and providing preferential financing for international projects. Joint efforts will be made to assist exporters in navigating changing global trade conditions and mitigating external risks.
“This agreement goes beyond simply reinforcing existing export supply chain programs and contribution-based projects,” stated Lee. “It aims to diversify financial support, including expanding mid- to long-term overseas financing through the joint development of international business ventures. Hana Bank remains dedicated to expanding productive finance through strengthened public-private collaboration.”
This move follows a similar agreement signed last month between Hana Bank, HD Hyundai Heavy Industries, and K-Sure to support the shipbuilding export supply chain. Hana Bank will contribute 23 billion won of a total 28 billion won to K-Sure, enabling up to 400 billion won in liquidity support for HD Hyundai Heavy Industries’ subcontractors.
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