Shinhan Financial Group Co., Ltd. (055550) unit Shinhan Bank is expanding a supplier support fund with Samlip, Yonhap reported Monday. Samlip increased the program from ₩28 billion to ₩35 billion under its supplier cooperation agreement with the bank.
The arrangement uses interest from Samlip's bank deposits to provide borrowing discounts to its suppliers, the September 7 report said. Participating companies can receive lending rates approximately 1.4 percentage points below ordinary market loan rates.
The fund began at ₩20 billion in 2016 and expanded to ₩28 billion in 2024. The company's market capitalisation was ₩53.5 trillion at Monday's close.
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| Symbol | Last Price |
|---|---|
| 055550Shinhan Financial Group Co., Ltd. | ₩113,900 +3.3% |