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Shinhan Bank |
[Alpha Biz= Paul Lee] SEOUL, Sept. 3, 2025 – Shinhan Bank announced today that it provided ₩7.2 billion (approx. USD 5.3 million) in interest savings to customers during the first half of 2025 through the operation of the Interest Rate Reduction Request system.
The system, legislated in 2019, allows financial consumers to request lower lending rates when their credit standing improves. Since 2022, Korean banks have been required to disclose semiannual results on acceptance rates and total interest reductions through the Korea Federation of Banks’ consumer portal.
From the initial disclosure period in the first half of 2022 through the first half of 2025, Shinhan Bank received over 850,000 requests, approving more than 310,000 cases. The total interest reduction granted during this period reached ₩46.6 billion.
Shinhan Bank emphasized that it leads the industry in supporting small business owners. Since March 2020, when it introduced a digital platform for household loan applications, the bank has expanded mobile accessibility, enabling small business owners to request interest rate cuts conveniently online.
“By strengthening digital channels and ensuring fair opportunities, we aim to make financial benefits more accessible to a broader range of customers, especially small business owners,” a Shinhan Bank spokesperson said.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
