Hana Bank is set to provide financial support to companies involved in semiconductor materials, components, and equipment. The initiative aims to enhance the competitiveness of the semiconductor ecosystem by extending support to small and medium-sized partner companies.
On July 10, Hana Bank announced it has signed a memorandum of understanding with the Technology Guarantee Fund for a 'Financial Support Agreement for Scaling Up the Semiconductor Industry.'
This agreement is designed to alleviate the financial burden on small businesses in the semiconductor sector and support their growth. It specifically targets not only major companies like Samsung Electronics and SK Hynix but also extends support to materials, components, and equipment firms, as well as second- and third-tier partners.
Under the agreement, Hana Bank and the Technology Guarantee Fund will establish a total guarantee of 100 billion won. To assist semiconductor SMEs facing management challenges due to prolonged high inflation and interest rates, the fund will provide a guarantee fee reduction of 0.3 percentage points for three years, while Hana Bank will support a 0.5 percentage point reduction for two years.
Additionally, Hana Bank will offer preferential interest rate products and consulting services tailored to the semiconductor industry alongside the agreement guarantees. The plan is to support not just funding but also improvements in financial structures and the establishment of growth strategies for these companies.
Seo Yoo-seok, Deputy Governor of Hana Bank, stated, "This support goes beyond simple financial provision; it is a collaborative growth project aimed at strengthening the foundational capabilities of the semiconductor ecosystem, a strategic industry for South Korea's future. We will expand productive finance to ensure substantial financial support for not only semiconductor-related sectors but also second- and third-tier partners of large corporations."
* This article has been translated by AI.
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