"E7·E9 Migrant Workers Can Borrow Up to 10 Million Won for 30 Months"... Hana Bank Launches EZ Loan

[Financial News] Hana Bank announced on the 27th that it has launched the Hana Foreign EZ Loan, a credit loan product exclusively for foreign workers residing in Korea. Hana Bank has prepared this product as part of its inclusive finance initiative to expand financial access for foreign workers residing in Korea and support their stable settlement in the country. 
According to the Ministry of Justice, as of the end of last year, there were approximately 2.65 million foreigners residing in the Republic of Korea. Among them, 567,000 were counted as having employment qualifications. With the increase in long-term stays and family accompaniment of foreign workers, the demand for living stabilization funds such as housing and education expenses is expanding, increasing the need for financial support for them.
Hana Bank has prepared a loan product to increase the financial accessibility of foreign workers working in Korea and support their stable settlement in response to these environmental changes. This is part of the inclusive finance initiative to expand financial access for foreign workers residing in Korea and support their stable settlement.
The target is foreigners holding E-7 (Specific Activities) and E-9 (Non-professional Employment) visas. Loans of up to 10 million won can be borrowed for a maximum of 30 months. It is designed considering the average stay period of foreign workers and the expiration of their visas.
The product is handled through face-to-face sales at 16 Sunday branches nationwide, which are specialized branches for foreign workers of Hana Bank. The sales channels will be gradually expanded in the future.
A representative from Hana Bank's Retail Product Department stated, "The Hana Foreign EZ Loan was launched to allow foreign workers residing in Korea to conveniently use the financial services they need in their daily lives," and added, "We will continue to expand customized products that meet the financial needs of various foreign customers."
Meanwhile, in May this year, Hana Bank launched the 'Hana the EASY Savings', a foreigner-exclusive savings account that offers up to a 5% interest rate benefit based on overseas remittance performance for foreign customers residing in Korea.

mj@fnnews.com Park Moon-soo Reporter