HD Hyundai’s Construction Equipment Division Signs Network Loan for Mutual Growth with KOSME
- The division has entered into a business agreement with the Korea SMEs and Startups Agency (KOSME) to support funding for its partner companies.
- A fund of 40 billion won will be established to provide comprehensive support, including workforce development, AI transformation, and safety initiatives.
On December 18, HD Hyundai’s Construction Equipment division signed a Network Loan for Mutual Growth with the Korea SMEs and Startups Agency (KOSME) at its Ulsan Campus. This initiative aims to provide funding for small and medium-sized partner companies.
The signing ceremony was attended by approximately 10 officials, including HD Construction Equipment Executive Vice President Jung Chang-hwa (Procurement Division) and Vice President Park Je-il (Construction Equipment Quality), as well as Ban Jeong-sik, KOSME's director of regional innovation.
The Network Loan for Mutual Growth allows KOSME to provide short-term production loans at competitive interest rates to small and medium-sized partner companies of HD Hyundai XiteSolution and HD Construction Equipment. These loans are secured by volume confirmation certificates that detail the transaction amounts. Partner companies are required to repay the loans within a maximum timeframe of one year.
The initiative includes a collaboration between HD Hyundai’s Construction Equipment division and KOSME to establish a 40 billion won loan program. They will also work together on workforce development, AI transformation, and safety management to enhance the external capabilities and operational stability of key industries in the region. This program is expected to officially kick off in the first half of 2026.
Executive Vice President Jung Chang-hwa remarked, “We expect this agreement with KOSME to provide liquidity to partner companies in need of production funds, stabilizing the supply chain and laying a foundation for sustained growth.” He added, “We will actively support production innovation activities, including financial assistance, to strengthen our partners' competitiveness.”
Ban Jeong-sik, KOSME’s Regional Innovation Director, noted, “This agreement, spearheaded by HD Hyundai’s Construction Equipment division—a key driver of Ulsan's regional economy—along with its small and medium-sized partners, will serve as a representative model for co-prosperity between large and small businesses. We will continue to lead efforts to stabilize the supply chain for the region's core industries.”
△ HD Hyundai’s Construction Equipment division signed a business agreement with the Korea SMEs and Startups Agency (KOSME) on December 18 at its Ulsan Campus for the Network Loan for Mutual Growth, which aims to provide financial support to its small and medium-sized partner companies.