Hana Financial supports low-cost egg supply ahead of Chuseok
Hana Financial Group Chairman Ham Young-joo, second from left, looks at eggs during a visit to a grocery store in Seoul, Friday. From left are Kwon Hyuk-hwan, vice chairman of the Korea Federation of Micro Enterprise, Ham, In Tae-yeon, head of the Small Enterprise and Marketing Service, and Hana Bank CEO Lee Ho-seoung. Courtesy of Hana Financial Group.
Hana Financial Group has teamed up with small business support organizations to supply cheaper eggs to supermarkets, seeking to ease food price pressures ahead of the Chuseok holiday, the group said Sunday.
The financial group signed an agreement Friday with the Small Enterprise and Marketing Service and the Korea Federation of Micro Enterprise to support the supply of eggs at lower prices.
Under the initiative, dubbed the "Good Egg Project," Hana Financial plans to work with 20 poultry farms and supply about 120,000 trays of eggs to some 4,000 supermarkets nationwide.
A set of two trays, or 60 eggs, will be priced at 9,990 won ($7) at designated stores, starting Friday.
Hana Financial will contribute funds to the project and cover costs related to washing, inspecting and sorting the eggs, as well as transportation expenses as part of efforts to reduce distribution costs and keep retail prices down.
The Small Enterprise and Marketing Service will establish guidelines for price labeling and oversee the project, while the Korea Federation of Micro Enterprise will help secure distribution through its network of supermarket chains.
The initiative is part of the financial group's efforts to support small-sized businesses struggling with high prices and weak consumer spending, while helping ease the consumer burden of rising food prices ahead of Chuseok holiday, which runs from Sept. 24 to 27.
"I am pleased that this project, carried out together with the Small Enterprise and Marketing Service and the Korea Federation of Micro Enterprise, can provide practical help to small business owners, who are the roots of the local economy, as well as consumers," Hana Financial Group Chairman Ham Young-joo said.
"We will continue to carry out support programs that contribute to people's livelihoods and promote inclusive finance by fulfilling our social responsibility," he said.