HD Hyundai Construction Equipment's 3 Companies Advance Payment of 132.7 Billion KRW to Partners for Materials

Purpose of Alleviating Financial Burden on Partners Before the Holiday

Three HD Hyundai construction machinery companies have taken steps to practice win-win management by making early payments for materials to their partners before the holiday.

HD Hyundai Site Solutions, HD Hyundai Construction Equipment, and HD Hyundai Infracore announced on the 24th that they will make early payments totaling 132.7 billion KRW to their partners ahead of Chuseok. The payment targets are approximately 690 small and medium-sized enterprises supplying raw materials, parts, and consumables to the three companies.

The three HD Hyundai construction machinery companies plan to ease the financial burden on their partners, which tends to concentrate before the holidays, by advancing the payment date by about two weeks from the regular payment dates of the 6th and 10th of next month, making a lump-sum payment on the 27th before the holiday break.

A representative from HD Hyundai Site Solutions said, "Due to high interest rates, many partners are struggling to secure liquidity, so following the Lunar New Year, we decided to make early payments for materials again this Chuseok. We will continue to prepare various support policies for mutual growth with our partners."

Meanwhile, the three HD Hyundai construction machinery companies are implementing various support measures to strengthen partner competitiveness and support ESG management. Since September last year, HD Hyundai Site Solutions, HD Hyundai Construction Equipment, and HD Hyundai Infracore have been participating in a pilot project for a delivery price linkage system that automatically reflects raw material price fluctuations in delivery prices. Starting this year, they are also conducting projects to support partners facing difficulties in promoting ESG management.