HD Hyundai XiteSolution Signs “Network Loan for Mutual Growth” Business Agreement with KOSME  

- Establishes a KRW 25 billion fund to support stable manufacturing operations for SME suppliers
- KOSME and parent company partner to support suppliers with exceptional technological capabilities and growth potential

HD Hyundai XiteSolution, the intermediate holding company of HD Hyundai's construction equipment business, and the Western Incheon District Office of the Korea SMEs and Startups Agency (KOSME) announced on Friday, the 28th, that they have signed a "Network Loan for Mutual Growth" business agreement at the HD Hyundai Global R&D Center in Pangyo, Gyeonggi Province, to support small and medium-sized enterprise (SME) suppliers in Incheon's strategic industries.

Key officials from both organizations attended the signing ceremony, including Jung Chang-hwa, Executive Vice President and Head of Procurement at HD Hyundai XiteSolution, and Ban Jung-sik, Regional Innovation Director at KOSME.

Under this agreement, HD Hyundai XiteSolution will establish a fund up to KRW 25 billion to support the uninterrupted operations of its SME suppliers. Leveraging policy finance, KOSME plans to run multi-faceted win-win programs concurrently, including: ▲providing network loans for mutual growth to SME suppliers, ▲identifying and recommending outstanding suppliers, ▲supporting export marketing and workforce training, and ▲facilitating AX (AI Transformation).

The Network Loan for Mutual Growth is an initiative where KOSME signs agreements with client companies (large corporations, mid-market companies, or financially sound SMEs), which then recommend SME suppliers with exceptional technology and growth potential. KOSME then provides working capital to these recommended suppliers to help them fulfill their delivery contracts. The core objective is to ease the financial burdens SMEs face during the production and delivery cycle and help them secure necessary operational funds in a timely manner.

Jung Chang-hwa, Executive Vice President of HD Hyundai XiteSolution, stated, "To ensure the sustainable growth of our suppliers, it is crucial to expand support for operational innovations such as automation and robotics. Through this agreement, we will do our utmost to enhance our suppliers' competitiveness and foster their long-term growth."

Ban Jung-sik, Regional Innovation Director at KOSME, noted, "In an industrial ecosystem where large corporations and SMEs are closely interconnected, securing stable financing for SME suppliers is critical to supply chain competitiveness. With this agreement, we will further strengthen the foundation for mutually beneficial cooperation so that HD Hyundai XiteSolution and its suppliers can grow together, while actively contributing to the competitiveness of the region's flagship industries."

△ Officials from HD Hyundai XiteSolution and the Western Incheon District Office of the Korea SMEs and Startups Agency (KOSME) take a commemorative photo after signing the "Network Loan for Mutual Growth" business agreement at the HD Hyundai Global R&D Center in Pangyo, Gyeonggi Province. (Fourth from left: Ban Jung-sik, Regional Innovation Director at KOSME; Fifth from left: Jung Chang-hwa, Executive Vice President of HD Hyundai XiteSolution.)

△ Officials from HD Hyundai XiteSolution and the Western Incheon District Office of the Korea SMEs and Startups Agency (KOSME) take a commemorative photo after signing the "Network Loan for Mutual Growth" business agreement at the HD Hyundai Global R&D Center in Pangyo, Gyeonggi Province.