Hyundai Mobis signs 500 billion won mutual growth guarantee agreement with Hana Bank and KOTEC

[Financial News] Hyundai Mobis is joining forces with Hana Bank and KOTEC to launch a 500 billion won mutual growth guarantee program to support the shared growth of its suppliers.
Hyundai Mobis said on the 28th that it signed the mutual growth guarantee MOU with Hana Bank and KOTEC on the 27th at its headquarters in Yeoksam-dong, Gangnam-gu, Seoul, to provide financial support for suppliers.
The agreement was designed to help small and mid-sized suppliers that have strong technology and growth potential but struggle to secure funding because of weak credit ratings or insufficient collateral. It also expands support to suppliers that have had difficulty benefiting from existing financial aid programs.
Under the agreement, Hyundai Mobis and Hana Bank will contribute a total of 30 billion won. Based on that, KOTEC plans to create a 500 billion won loan guarantee limit to help suppliers raise funds from CET1 financial institutions.
A key feature of the program is that guarantee screening will focus on technology and business viability rather than financial evaluation. Even small suppliers with excellent technology but limited credit or collateral will be able to receive preferential interest rates of 3.9% to 4.9% at Hana Bank, backed by KOTEC's guarantee.
Hyundai Mobis expects the support package to reduce suppliers' actual financing costs and help them expand investment in R&D and production facilities by improving liquidity.
It also said the program is expected to create synergy in building a supplier ecosystem for future businesses such as Robotics and semiconductor, which Hyundai Mobis is currently pursuing.
Lee Gyu-seok, CEO of Hyundai Mobis, said, "This mutual growth guarantee program was designed to support suppliers that have excellent technology but have struggled to secure growth opportunities because of financial conditions." He added, "We will continue to strengthen win-win cooperation with our suppliers and enhance the self-sustaining strength of the mobility industry as a whole."
Hyundai Mobis plans to begin full-scale operation of the mutual growth guarantee program in September and gradually expand a range of financial support programs for domestic and overseas suppliers.


[email protected] Kim Hak-jae Reporter