The bank said it signed a business agreement on March 16 with the city of Gwangju, the Gwangju Chamber of Commerce and Industry, the Korea Credit Guarantee Fund and the Korea Technology Finance Corp. to support the development of hub companies in the region.
The agreement is aimed at strengthening the growth base for small and medium-sized companies pursuing future strategic industries in Gwangju and the wider Honam region, while supporting regional economic activity under the government’s balanced-growth policy.
Hana Bank plans to contribute a total of 4 billion won — 3 billion won to the Korea Credit Guarantee Fund and 1 billion won to the Korea Technology Finance Corp. — to provide 155.6 billion won in liquidity.
Eligible firms include those in six advanced strategic industries — AI, biotech, content, defense, energy and smart factories — as well as exporters and companies expanding overseas, job-creating firms and businesses rooted in the local economy. The bank also plans to cover 0.6% of guarantee fees for two years to ease financing burdens for smaller companies.
The guarantee institutions will also expand support. The Korea Credit Guarantee Fund and the Korea Technology Finance Corp. will raise their guarantee coverage ratio to 100% from 85% and cut guarantee fees by 0.3 percentage points. Gwangju will provide 2.0% interest subsidies on 30 billion won in working-capital loans to reduce financing costs for local small businesses. The chamber said it will work to broaden participation by regional companies.
“This agreement will improve access to financing for promising small and medium-sized companies in the Gwangju-Jeolla region and support stable business operations,” Hana Bank CEO Lee Ho-seong said. “We will continue to accelerate productive financial support for balanced national development and the growth of future strategic industries.”
* This article has been translated by AI.
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