NAVER Pay joins forces with Hana Bank and Seoul Credit Guarantee Foundation to provide financial support for neighborhood businesses

[Financial News] Naver Pay has signed a win-win agreement with Hana Bank and the Seoul Credit Guarantee Foundation to support Seoul Dalbit Yajang and youth entrepreneurship. The initiative aims to provide practical financial support to small business owners and serve as a catalyst for revitalizing neighborhood commercial districts.
According to industry sources on the 5th, Naver Pay, Naver and Hana Bank will make a total of KRW 5.5 billion in special contributions to the Seoul Credit Guarantee Foundation under the agreement. They will also distribute Npay Connect terminals to help small business stores undergo digital transformation.
Using these funds, the Seoul Credit Guarantee Foundation will provide credit guarantees worth a total of KRW 68.75 billion. Hana Bank will offer guarantee-backed loans based on certificates issued by the Seoul Credit Guarantee Foundation, helping small businesses in Seoul secure funding smoothly.
The agreement was launched in connection with the Seoul Dalbit Yajang development project. It aims to improve financial access for small businesses in nighttime commercial districts and young entrepreneurs, while establishing a foundation for cooperation that combines the capabilities of financial institutions and fintech companies to support the growth of local small businesses and revitalize commercial districts.
The support is available to small businesses based in Seoul. In particular, businesses located in Seoul Dalbit Yajang commercial districts, including Sangbong Food Alley in Jungnang-gu selected by the Seoul Metropolitan Government; young business owners operating companies founded within the past seven years; and businesses that have installed Npay Connect terminals will be eligible for preferential guarantee limits of up to 130% of the existing limit.
The special guarantees will be available for up to KRW 100 million per business, with a guarantee period of up to five years. The program will also be linked to Seoul's interest subsidy program to reduce the financial costs borne by small businesses. Actual eligibility and specific conditions, including guarantee and loan limits, will be determined according to the screening criteria of the Seoul Credit Guarantee Foundation and Hana Bank.
The first beneficiary of the special guarantee program has also emerged under the agreement. A young entrepreneur who operates a beer specialty pub at Sangbong Food Alley in Jungnang-gu was selected as the first recipient and will receive a guarantee-backed loan needed to operate the business.
Naver Pay and Hana Bank delivered a total of KRW 10 million in development funds to the Sangbong Food Alley merchants' association. The funds will be used for various projects to improve the commercial district's competitiveness, including environmental improvements and joint marketing, and to revitalize the local commercial area.
Naver Pay plans to expand its cooperation model with regional credit guarantee foundations and financial institutions to other areas. Since August, it has also continued providing financial support centered on Npay Connect, fully covering through the end of this year the in-store payment fees for Naver Pay Money and Points for small and medium-sized merchants that have installed the Npay Connect integrated offline terminal.
Park Sang-jin, CEO of Naver Pay, said, "We will continue expanding win-win models that support small business owners in operating and growing their businesses steadily while bringing vitality to local commercial districts."
[email protected] Jang Min-kwon Reporter