Hana Financial launches W10b project to support small merchants
Hana Financial Group, a leading Korean financial service provider, launched a project to help small business owners across the country, as part of the firm's environmental, social and governance drive, the group announced Thursday.
Through its key lending affiliate Hana Bank, the firm is to put 10 billion won ($6.8 million) into roughly 3,500 small businesses to help them bring up efficiency in business management.
For 1,000 businesses, the firm is to change outdated appliances such as air conditioners and refrigerators with high-efficiency products in April. It will also help another 2,000 merchants with repairs such as changing the signs, preventing leakage and changing interiors in June. In August, the firm will provide funding for 500 businesses to acquire new digital devices, such as barrier-free kiosks and artificial intelligence, closed-circuit televisions.
Hana Financial will select small merchants based on the suitability of their business, and the validity and efficiency of the support. The firm will receive applications for a month for each drive and review them for two weeks.
As part of the move, Hana Financial Group CEO Ham Young-joo visited a small business that was damaged by a fire at the end of last year, and pitched in to help with repairs. It was his first official event after securing his second term as the finance firm's chief.
Ham also met with corporate clients and shared their difficulties with corporate management.
'As a partner that helps the growth of small business owners who are the base of the economy and the center of the local community, Hana Financial will continue to support small business owners who are experiencing difficulties with the economic slowdown,' Ham said.
The firm teamed up with the governmental agency Small Enterprise and Market Service for the project. Under the Ministry of SMEs and Startups, SEMAS supports small businesses and traditional markets.
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