Business · Companies · 2 hrs ago
Hana and Dongkuk Steel to link buyer loans and payments on SteelShop
Hana Bank, Hana Card and Dongkuk Steel have agreed to expand financing support for companies buying steel.
The plan is for buyers in South Korea who use Dongkuk Steel’s online trading platform, SteelShop.
About 3,000 buyer companies use the platform to purchase steel.
Buyers will be able to click once to have a purchase loan and payment automatically processed through the platform.
The linked service is scheduled to begin in the fourth quarter.
Hana Bank will offer special preferential interest rates on the loans, aiming to reduce buyers’ financing costs.
The arrangement is intended to make steel purchases easier to finance and strengthen support for companies in Dongkuk Steel’s supply chain.
Hana Bank, Hana Card and Dongkuk Steel have agreed to link buyer financing and payments on the SteelShop platform.
The service will let about 3,000 buyer partner companies arrange steel purchases through an integrated process.
A single click on the platform’s payment button will trigger a buyer loan and settle the purchase payment automatically.
The system is scheduled to launch in the fourth quarter.
Hana Bank will offer special preferential interest rates on buyer loans to reduce procurement costs.
- Who
- Hana Bank, Hana Card and Dongkuk Steel.
- What
- They agreed to connect buyer loans and affiliated card payments for steel purchases on SteelShop.
- When
- The agreement was announced on October 22, 2026. The service is scheduled to begin in the fourth quarter.
- Where
- On Dongkuk Steel’s SteelShop online direct-trading platform.
- Why
- To strengthen supply chain financing for companies that buy steel and ease their procurement costs.
This story does not have two clearly opposing sides.
Hana Bank, Hana Card and Dongkuk Steel announced that they had signed an agreement to support financing for steel-buying companies.
The integrated loan and payment service is scheduled to begin.
- Buyer companies
- About 3,000 SteelShop buyer partner companies
- Platform
- SteelShop, Dongkuk Steel’s online direct-trading platform for steel products
- Purchase process
- One click will trigger the loan and automatically settle the purchase payment
- Launch
- Scheduled for the fourth quarter
- Loan terms
- Hana Bank will apply special preferential interest rates to buyer loans
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