Hoban Takes Direct Support Measures for Partners Facing COVID-19 Crisis

[Asia Economy Reporter Lee Chun-hee] Hoban Group is taking direct financial support measures for partner companies facing difficulties due to the novel coronavirus infection (COVID-19). Hoban plans to raise and provide funds totaling approximately 2 billion KRW.

On the 26th, Hoban Group announced that it delivered an 'Emergency Management Stabilization Fund' to overcome COVID-19 to Shim Yong-gil, CEO of Hyeonho Construction, representing partner companies at Hoban Park Building 2 in Umyeon-dong, Seocho-gu.

This management stabilization fund will be raised to a total of 2 billion KRW using the existing win-win cooperation fund. It is the first case in the construction industry to provide management stabilization funds to partner companies and will support about 200 partner companies affiliated with Hoban Construction and Hoban Industry under Hoban Group. Hoban Group will prioritize partner companies in the Daegu and Gyeongbuk regions, providing 20 million KRW each. Other partner companies at ongoing construction sites will receive 10 million KRW each. The scheduled payment time is early next month.

Shim Yong-gil, CEO of Hyeonho Construction, said, "Many businesspeople are facing unexpected crises due to COVID-19," and "Although we have entered an emergency management system, we are grateful for the delivery of management stabilization funds for partner companies." Kim Sang-yeol, Chairman of Hoban Group, also conveyed in a letter, "No matter what crisis comes, if we trust and rely on each other and overcome difficult times, a new opportunity will surely come," and "We sincerely provide the management stabilization fund to help stabilize management even a little."

Earlier this month, Hoban Group also announced support worth 1 billion KRW to overcome COVID-19. Following a donation of 300 million KRW to the Korean Red Cross on the 2nd, its affiliates 'Avenue France' and Hoban Hotel & Resort decided to reduce rent by up to 30% for up to six months for about 200 small business owners and small enterprises in leased stores. The employee volunteer group 'Hoban Sarang Nanum-i' also delivered 30,000 masks through the Korean Red Cross and is conducting a COVID-19 prevention supplies sharing campaign together with Seocho-gu.

This content was produced with the assistance of AI translation services.