Hana Bank is stepping up its productive finance push with K-Sure, committing 5 trillion won ($3.5 billion) over three years to support local exporters, a key pillar of Korea’s export-driven economy.
The lender said a signing ceremony was held in Seoul on Wednesday, attended by Hana Bank CEO Lee Ho-sung, Trade Minister Kim Jung-kwan and K-Sure CEO Jang Young-jin.
The agreement establishes a strategic partnership between Hana Bank and the state-run trade insurer, with the two sides pledging to channel a combined 5 trillion won in productive financing over three years. K-Sure is a Trade Ministry-affiliated agency that implements export support policies by providing trade insurance and financing to small and mid-sized exporters.
Under the framework, Hana Bank will introduce preferential export financing and expand guarantee programs, while easing funding costs for small and mid-sized exporters through working capital and facility investment loans. The partners will also explore overseas business opportunities and offer preferential financing for cross-border projects, alongside joint efforts to help exporters respond to shifting global trade conditions and manage external risks.
“This pact goes beyond reinforcing existing export supply chain programs and contribution-based projects, aiming to diversify financial support, including expanding mid- to long-term overseas financing through joint development of overseas business opportunities,” Lee said. “Hana Bank will continue to expand productive finance through closer public-private cooperation.”
The move follows a similar agreement Hana Bank signed last month with HD Hyundai Heavy Industries and K-Sure to bolster the shipbuilding export supply chain. Under the deal, Hana Bank will provide 23 billion won of a total 28 billion won contribution to K-Sure, enabling up to 400 billion won in liquidity support for HD Hyundai Heavy Industries’ subcontractors.
jwc@heraldcorp.com
