Shinhan Financial, Delivers 2 Billion Won for Flood Damage Recovery... Comprehensive Financial Support Implemented

[Financial News] Shinhan Financial Group announced on the 18th that it will deliver donations and implement comprehensive financial support with the participation of group companies for residents affected by recent heavy rains nationwide.
Shinhan Financial plans to provide emergency livelihood and housing support, as well as support for the restoration of public facilities and local infrastructure, by supplying emergency relief kits and relief tents consisting of daily necessities and medicines along with a donation of 2 billion won to flood victims.
Shinhan Bank will offer up to 500 million won in new credit support for small and medium-sized enterprises and small business owners, extend maturities and defer installment repayments, provide a special preferential interest rate of up to 1.5 percentage points (p) for new and maturity extensions, and offer a maximum 1.5%p interest rate preference for new and existing personal loan customers.
Shinhan Card plans to support 'billing deferral', allowing affected customers to repay card payments six months later, and 'installment repayment', allowing them to pay over six months after the deferral period ends. Shinhan Life will implement financial support such as deferring insurance premium payments for six months for affected customers, allowing installment payments for up to six months after the deferral period ends, and guaranteeing normal benefits regardless of premium payment status during the period.
Shinhan Financial Chairman Jin Ok-dong stated, "Considering the situation where unexpected disasters such as floods cause human and property damage every year, we established a constant response system for disaster damage support in July last year," adding, "We will do our best to help residents in the affected areas quickly regain stability through this prompt and systematic support."

zoom@fnnews.com Lee Jumi Reporter