HD Construction Equipment Signs MOU for KRW 85 Billion Financial Guarantee to Support Partner Growth

▶ Agreement with Hana Bank and Korea Credit Guarantee Fund (KODIT) to provide guarantee fee discounts and preferential interest rates
▶ "Helping partners prepare for the future is the true meaning of shared growth"

HD Construction Equipment is launching a financial guarantee program worth KRW 85 billion to foster a stable business environment for its partner companies.

The company announced on April 30 that it had signed a memorandum of understanding (MOU) with Hana Bank and the Korea Credit Guarantee Fund (KODIT) to support shared growth in the construction equipment industry. This agreement was made on the 29th at Hana Bank’s headquarters located in Jung-gu, Seoul.

The ceremony was attended by key officials, including Lee Ho-seong, the President of Hana Bank; Chae Byeong-ho, the Executive Director of KODIT; Moon Jae-young, the CEO of HD Construction Equipment; and Kim Do-wan, the Chairman of the HD Construction Equipment Partner Company Council. 

This agreement was established to provide practical assistance to partners facing difficulties in obtaining funding due to recent economic uncertainties. The level of support has significantly increased in response to the high demand for the existing "Mutual Growth Fund," which was quickly depleted.

Under the agreement, HD Construction Equipment and Hana Bank will jointly establish a fund of up to KRW 5 billion. KODIT will use this fund to provide up to KRW 85 billion in loan guarantees for partner companies borrowing from financial institutions. 

The guarantee program is divided into two tracks: a Joint Project Guarantee of KRW 40 billion for partners engaged in future innovation, such as new model development and production, and a Mutual Growth Financial Support Guarantee of KRW 45 billion for all partners. Both tracks offer discounted guarantee fees and preferential interest rates.

"The true value of shared growth lies in helping our partners prepare for the future confidently, even amidst an uncertain external environment," stated CEO Moon Jae-young. "We hope this financial support will enhance the overall competitiveness of the construction equipment industry by fostering a culture of mutual growth with our partners."

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■ Photo Caption: On Wednesday, April 29, HD Construction Equipment signed a Memorandum of Understanding (MOU) with Hana Bank and the Korea Credit Guarantee Fund (KODIT) at Hana Bank headquarters to support mutual growth in the construction equipment industry. Pictured from left to right are Kim Do-wan, Chairman of the HD Construction Equipment Partner Company Council; Moon Jae-young, CEO of HD Construction Equipment; Lee Ho-seong, President of Hana Bank; and Chae Byeong-ho, Executive Director of KODIT.