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Hana allocates $7M for small business improvement projects

Published: 27 Mar. 2025, 15:08 Updated: 27 Mar. 2025, 20:14

KIM JU-YEON
[email protected]

Hana Financial Group Chairman and CEO Ham Young-joo, left, greets a small business owner on March 26. The executive visited mom-and-pop stores affected by fires last year as part of his first public appearance since was elected to a second term. [HANA FINANCIAL GROUP]

Hana Financial Group has allocated 10 billion won ($6.8 million) for environmental, social and governance projects for small businesses this year as part of the group’s aim to prioritize customers and on-site operations.

Chairman and CEO Ham Young-joo underscored this goal as he visited mom-and-pop stores on Wednesday in his first public appearance since being elected to serve a second term as chairman and CEO at a general shareholder meeting the day before.

The chairman chatted with merchants whose businesses were affected by fires last year and joined employees on heating and cooling system installation and paint touch-ups at their stores, according to Hana Group on Thursday.

“Small business owners are the backbone of the public’s livelihoods and local communities; as their partner in growth, Hana Financial Group will continue to implement mutually beneficial finance practices so that small business owners who are struggling from the economic downturn can continue to have hope,” Ham said through the company’s press release.

The 10 billion won, to be funded through Hana Bank, will go toward working environment or sales improvements for a total of 3,500 small businesses. Energy-efficient electronics such as refrigerators and air conditioners will be provided to around 1,000 merchants in April; store front changes, interior design or repair work will be carried out for 2,000 businesses in June; and digital devices including kiosks and security cameras will be installed at 500 places in August.

The businesses will be selected based on criteria including feasibility as well as effectiveness and sustainability of the aid. Stores registered in alley shopping districts and affiliated with the Onnuri voucher system will be given preference in the evaluation.

BY KIM JU-YEON [[email protected]]