Hana Bank launches 630 billion won Incheon support package

Hana Bank is rolling out a 630 billion won ($445.7 million) financial support package in Incheon aimed at shoring up household finances, supporting small businesses and channeling capital into future industries. The bank said on the 17th that it signed three memoranda of understanding with Incheon Metropolitan City on the 14th covering support for low-income households, young adults and small business owners, development of ABC+E sectors, and the creation of the Incheon Unicorn Fund. The package includes emergency support for victims of jeonse fraud (rental deposit scams), housing and job-preparation finance for young adults, about 30 billion won in guaranteed loans, an expanded 248.3 billion won management stabilization fund, 150 billion won in technology guarantees for AI, bio, contents and energy companies, and a 200 billion won fund for high-growth regional companies. The initiative is meant to align finance with Incheon’s livelihood, industrial and investment policies, while Hana Financial Group says its headquarters move to Cheongna International City could generate about 3.4 trillion won in economic impact over the next decade, around 15,000 jobs and about 420 billion won in tax revenue.

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