[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [ACTIVE] · [BUSINESS]

2 clusters · 7 sources · 13 days · First seen · Last updated

Hyundai Motor Group supplier financial support

Overview

Hyundai Motor Group has implemented several financial initiatives to support its supply chain partners in South Korea.

In late August, Hyundai Mobis partnered with Hana Bank and the Korea Technology Finance Corporation to launch a 500 billion won win-win guarantee program. This initiative focuses on providing credit guarantees to small and medium-sized suppliers with high technological potential, prioritizing technological merit and business viability over traditional financial assessments to help them secure funding.

Following this, Hyundai Motor Group announced plans to distribute 2.2562 trillion won in early payments to approximately 6,000 partners ahead of the Chuseok holiday. This measure, involving various group affiliates, aims to alleviate liquidity pressures related to wages and raw material costs. The group also encouraged primary suppliers to pass these early payments down to second- and third-tier partners.

Entities

Hyundai Mobis · Hyundai Motor Group · Korea Technology Finance Corporation · Hana Bank · Hyundai Motor Company

Timeline

  1. 3 days ago

    [BUSINESS] 6 sources
    Hyundai Motor Group to early-pay 2.26 trillion won to suppliers

    Hyundai Motor Group will early-pay 2.2562 trillion won to 6,000 suppliers before the Chuseok holiday to support liquidity and encourage a stable supply chain ecosystem.

  2. 15 days ago

    [BUSINESS] 3 sources
    Hyundai Mobis launches 500 billion won guarantee program for suppliers

    Hyundai Mobis, Hana Bank, and Korea Technology Finance Corporation have launched a 500 billion won guarantee program to provide low-interest loans to small-scale suppliers based on technological merit.

Sources

autoherald.co.kr · autotimes.co.kr · biz.heraldcorp.com · m.sportalkorea.com · sateconomy.co.kr · socialvalue.kr · thedrive.co.kr