Hana Financial Group announced on the 18th that it will donate a total of 2 billion won to quickly restore areas affected by nationwide heavy rainfall in the Chungcheong, Jeolla, and Yeongnam regions and to support flood victims.
Hana Financial will deliver funds prepared by 15 subsidiaries of the group to areas in need, such as restoration projects and emergency relief efforts for flood victims. Additionally, it will provide 1,111 sets of happiness boxes containing daily necessities and medical supplies, as well as support mobile meal trucks and laundry trucks.
It will also provide financial support for individuals and corporations affected by the flooding. Hana Bank will offer new funds, including emergency living stability loans of up to 50 million won for individuals affected by the heavy rainfall and emergency management stability loans of up to 500 million won for corporations. Existing loans will have their maturity extended for up to one year without principal repayment, and interest rates will be reduced by up to 1.3 percentage points.
Hana Card will support the deferral of payment for credit card transactions for up to 6 months and the partitioning of up to 6 months for repayment, while providing a 30% discount on fees for short-term credit loans used within 6 months after the disaster date. Hana Life will allow a maximum of 12 months' grace period for insurance premiums and interest payments for insurance contract loans and will expedite the payment of insurance claims related to disaster damage. Hana Insurance will pay up to 50% of the expected insurance benefits even before the completion of accident investigations for insurance claims related to flood damage and will also grant a grace period of up to 6 months for insurance premium payments for long-term insurance subscribers affected by the heavy rainfall.
Ham Young-joo, chairman of Hana Financial, said, "We will focus all our capabilities as a group to help the communities and customers suffering from unprecedented heavy rainfall return to their daily lives as soon as possible," and noted, "All employees of Hana Financial Group will actively participate in restoring affected areas and supporting flood victims with the sentiment that we are with the flood victims."