Hana Bank supports small exporters struggling with US tariffs

Hana Bank has launched a preemptive financial assistance package for small and medium-sized companies heavily dependent on the U.S. market to address the impacts of tariffs, the lender said Tuesday. The move comes as concerns grow over falling export volumes, tightened liquidity conditions and weakening credit profiles within Korea’s industrial base — especially in the automotive and manufacturing sectors. U.S. tariffs are expected to hit Korean businesses hard, since the world’s largest economy remains Korea’s second-biggest export destination, amplifying spillovers from trade uncertainties into employment, supply chains and investments. According to the company, CEO Lee Ho-seoung held a meeting with a group of CEOs from 10 export-reliant firms in Siheung, Gyeonggi Province. The province is where large industrial complexes are based, with many of their businesses tied to U.S. exports. The participants voiced concerns about potential credit downgrades, lowered loan limits and surging borrowing costs amid a bleak business outlook. Hana said it would ease credit evaluation criteria,Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times