Hana Bank said on the 14th it will provide export financing to partner companies feared to face direct and indirect damage from the U.S. tariff, in partnership with HL Group and the Korea Trade Insurance Corporation (K-sure).
Hana Bank on the 12th signed a business agreement for "win-win cooperation export financing support" with HL Group and K-sure at its Euljiro headquarters in Seoul. The agreement was prepared to support liquidity for auto parts exporters expected to suffer major damage from U.S. tariff measures, strengthen the export supply chain of Korea's auto industry, and promote win-win cooperation among large, mid-sized, and small companies.
Hana Bank and HL Group will provide export financing totaling 100 billion won, with 6 billion won and 2 billion won in grants, respectively. For partner companies recommended by HL Group, the program offers 100% support for guarantee fees, preferential loan rates, and preferential foreign exchange fees and exchange rates.
Earlier, last month, Hana Bank signed a business agreement with Hyundai Motor, Kia, and K-sure to supply a total of 630 billion won in liquidity.