Four major banks to provide 2 trillion won in financing alongside SK hynix for semiconductor suppliers

[Financial News] Four major banks—KB Kookmin, Shinhan, Hana and Woori—will join forces with SK hynix to provide a total of 2 trillion won in financial support to semiconductor partner companies. Funds contributed jointly by SK hynix and the banking sector, combined with guarantees from the Korea Trade Insurance Corporation, will enable partner companies to secure working capital at preferential interest rates.
According to the financial sector on the 20th, the four banks signed a business agreement with SK hynix and the Korea Trade Insurance Corporation the previous day at the semiconductor cluster in Yongin, Gyeonggi Province. The agreement is titled “Financing to Strengthen the Semiconductor Industry’s Export Supply Chain.”
The agreement was established to help SK hynix’s partner companies secure stable financing amid the spread of artificial intelligence (AI) and growth in the global semiconductor market, and to boost the competitiveness of Korea’s semiconductor supply chain. The participating banks will provide working capital at preferential interest rates to SK hynix’s first-, second- and third-tier partner companies, backed by guarantees with 100% coverage.
Hana Bank and Woori Bank will each provide 750 billion won in financial support. Hana Bank will contribute a total of 49.9 billion won to the Korea Trade Insurance Corporation, combining its own contribution of 42.4 billion won with SK hynix’s 7.5 billion won contribution. The corporation will provide partner companies with 100% guarantees for three years. For partner companies recommended by SK hynix, Hana Bank will offer practical benefits to ease their financial burden, including full coverage of guarantee fees, preferential loan rates, and reduced foreign exchange fees and favorable exchange rates.
Woori Bank will also provide 750 billion won in working capital, using a fund of 37.5 billion won that combines its own contribution of 30 billion won with SK hynix’s 7.5 billion won contribution. It will also cover guarantee fees worth about 12.4 billion won.
KB Kookmin Bank will provide preferential guarantee certificates worth 250 billion won using funds it contributed jointly with SK hynix.
Shinhan Bank will also provide 250 billion won in support. Shinhan Bank and SK hynix will jointly contribute a total of 16.625 billion won to the Korea Trade Insurance Corporation: 14.125 billion won from Shinhan Bank and 2.5 billion won from SK hynix.
The support is significant because it covers not only first-tier suppliers that deal directly with large companies but also second- and third-tier suppliers, including materials, parts and equipment companies. It is expected to underpin stable growth across the semiconductor supply chain.
[email protected] Lee Hyun-jung Reporter