Hana Bank supports small exporters struggling with US tariffs

Hana Bank CEO Lee Ho-seoung, front left, listens to officials at Seojin Industrial's plant in Siheung, Gyeonggi Province, Tuesday. Courtesy of Hana Bank

By Lee Kyung-min

• Published Sep 16, 2025 3:42 PM KST

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, provide fast liquidity, offer lowered borrowing rates and strengthen global and local financing channels.

The lender will also establish desks dedicated to helping the firms with tariffs and offering overall financial assistance at all branches nationwide.

Also available will be an on-site consulting program whereby Hana officials with deep financial knowledge will handle tariff issues faced by small businesses.

The drive is part of broader efforts to strengthen Korea’s industrial supply chains.

Lee visited Seojin Industrial, the first beneficiary of Hana’s financial assistance, created in partnership with Hyundai Motor, Kia and the Korea Trade Insurance Corp.

Hana Financial Group, the lender’s holding firm, has committed a total of 30 trillion won ($21 billion) in financial support, including 23 trillion won in emergency liquidity, to help small and medium-sized firms weather tariff-related shocks.

“We will continue to deliver on-the-ground financial support to ensure our exporters have the tools they need,” Lee said.