Hana Bank, Hyundai Mobis, and KOTEC to Provide 500 Billion Won in Financial Support to Partner SMEs

Hana Bank announced on August 28 that it has signed a comprehensive business agreement with Hyundai Mobis and the Korea Technology Finance Corporation to support win-win growth between large and small-to-medium enterprises by alleviating financial burdens for SMEs and will provide financial support amounting to 500 billion won.

Ho Sung Lee, President of Hana Bank (left), is taking a commemorative photo on the afternoon of the 27th at the Hyundai Mobis headquarters in Gangnam-gu, Seoul, after signing a comprehensive business agreement for "Supporting Win-Win Growth between Large and Small-Medium Enterprises" with CEO Kyuseok Lee and Hyungtaek Kwon, Chairman of the Korea Technology Finance Corporation. Provided by Hana Bank

The signing ceremony, held the previous day at the Hyundai Mobis headquarters in Gangnam-gu, Seoul, was attended by Ho Sung Lee, CEO of Hana Bank, Kyu Seok Lee, CEO of Hyundai Mobis, Kwon Hyungtaek, Chairman of the Korea Technology Finance Corporation, and other key officials.

This agreement was established to help Hyundai Mobis partner SMEs, who are facing difficulties in securing funds due to lack of creditworthiness or collateral, overcome their crises in an environment where economic recession is accelerating because of factors such as global geopolitical instability. The initiative also aims to strengthen the competitive edge of the future mobility industry through the expansion of productive financing and to foster joint growth with SMEs.

To achieve these goals, Hana Bank will contribute 24 billion won and Hyundai Mobis 6 billion won, for a total of 30 billion won to be jointly provided to the Korea Technology Finance Corporation. This will be used to carry out an agreement guarantee, supplying up to 500 billion won in liquidity. The support will target SMEs partnering with Hyundai Mobis, as recommended by the company, and will fund R&D, facility investment, and operational costs, among other areas.

In particular, this agreement guarantee expands preferential benefits to fundamentally resolve the financial burden on small partner SMEs exposed to relatively high interest rates. The measures include increasing the guarantee ratio to 100% for three years, reducing the guarantee fee rate by 0.4 percentage points for three years, and fully supporting the guarantee fee for the first year.

Hana Bank plans to continue supporting diverse initiatives that enable companies with physical AI technologies such as robotics and autonomous driving to focus solely on technological innovation by lowering the loan entry barrier for SMEs in genuine need of financial support and establishing a healthy cycle for funding allocation.

Ho Sung Lee, CEO of Hana Bank, stated, "We will work closely to ensure that SMEs with technological capabilities and potential do not lose their growth opportunities," adding, "We will continue to promote a virtuous cycle of funding through the expansion of productive finance, and we will make consistent efforts to support the recovery of the real economy and the growth of SMEs."

This content was produced with the assistance of AI translation services.