Hana Bank and Technology Guarantee Fund Support SMEs with 65.7 Billion Won for Succession and M&A

Hana Bank is set to provide financial support to small and medium-sized enterprises (SMEs) pursuing business succession and mergers and acquisitions (M&A).
On May 11, Hana Bank announced that it has signed a 'Financial Support Agreement for Business Succession and M&A for SMEs' with the Technology Guarantee Fund.
The agreement aims to assist SMEs facing challenges in business succession and to foster technology-driven companies.
Hana Bank will contribute a total of 2 billion won to the Technology Guarantee Fund, which will use these funds to provide guarantees totaling 65.7 billion won. This includes 30 billion won in guarantees through special contributions and 35.7 billion won through support for guarantee fees.
The support will target companies engaged in business succession or M&A. These companies will receive funding for working capital and facility investments. Eligible firms can benefit from a guarantee rate of up to 100%, with guarantee fees reduced by up to 0.7 percentage points.
Recently, many SMEs have struggled with business succession due to the aging of founders and a lack of successors. While these companies possess technological capabilities, they often face difficulties in securing funding during the succession process or pursuing M&A for expansion.
Through this agreement, Hana Bank plans to alleviate the financial burden on SMEs pursuing M&A and support their growth potential.
Seo Yoo-seok, Deputy Head of Hana Bank's Corporate Group, stated, "We will continue to provide comprehensive support to ensure that SMEs can secure growth momentum through active M&A and facilitate smooth business succession and technological innovation."

* This article has been translated by AI.

Kim yoon seop