Hana Bank, HD Hyundai Heavy Industries, and Korea Trade Insurance Join Forces to Strengthen K-Shipbuilding Export Supply Chain with Financial Support

Hana Bank and HD Hyundai Heavy Industries Jointly Contribute 28 Billion Won
Providing a Total of 400 Billion Won in Financial Support
Lee Hosung: "We Will Strive for Management Stability of Export Companies Through Public-Private Cooperation"

Hana Bank announced on January 23 that it has signed a financial business agreement with HD Hyundai Heavy Industries and Korea Trade Insurance Corporation to strengthen the export supply chain of the K-Shipbuilding industry.

The signing ceremony, held at Ulsan Metropolitan City Hall, was attended by key figures including Minister of Trade, Industry and Energy Kim Junggwan, Ulsan Mayor Kim Dukyum, Hana Bank President Lee Hosung, HD Hyundai Heavy Industries CEO Lee Sangkyun, and Korea Trade Insurance Corporation President Jang Youngjin.

This agreement was established to spread the achievements of the K-Shipbuilding industry, which proved its competitiveness in the global market last year, throughout the export supply chain and to support the management stability of small and medium-sized shipbuilders and equipment partner companies. To this end, financial support will begin in the Ulsan and Gyeongnam regions, where the shipbuilding industry is concentrated, by providing liquidity to partner companies recommended by HD Hyundai Heavy Industries. There are also plans to expand this support across the entire southern coastal belt where shipbuilding companies are located.

Through this agreement, a total of 28 billion won-23 billion won from Hana Bank and 5 billion won from HD Hyundai Heavy Industries-will be jointly contributed to Korea Trade Insurance Corporation, with plans to provide a total of 400 billion won in financial support and liquidity within the first quarter of this year. The beneficiaries will be partner companies recommended by HD Hyundai Heavy Industries, and practical benefits will be provided to reduce the financial burden on export companies, including 100% support for guarantee fees, preferential loan interest rates, and preferential treatment for foreign exchange fees and exchange rates.

Lee Hosung, President of Hana Bank, stated, "This financial support agreement marks the third case of expanding public-private cooperation, following the automobile and auto parts industries last year, to now include the shipbuilding industry. We will continue to provide practical financial support to enhance the management stability and supply chain competitiveness of export companies, as well as to invigorate the regional economy."

Meanwhile, this business agreement is part of the 'Hana All Growth Project,' in which Hana Financial Group announced in October that it would invest 100 trillion won over five years by 2030 to expand productive and inclusive finance. Hana Bank is taking the lead in the transformation toward productive finance by providing financial support to strengthen the supply chains of export and import SMEs facing challenges in the rapidly changing global market environment.

In addition, Hana Bank is continuously implementing a variety of financial programs to support the management stability of export companies, while also working to resolve practical difficulties faced by businesses through comprehensive financial consulting and support, including export finance, corporate loans, foreign exchange fee reductions, and management consulting.