Hanwha Aerospace Adds 10 Billion KRW to Partner Win-Win Fund... 'In Response to Overcoming COVID-19'

[Asia Economy Reporter Ki-min Lee] Hanwha Aerospace is expanding financial support for partner companies struggling due to the COVID-19 pandemic.

Hanwha Aerospace announced on the 23rd that it signed a 10 billion KRW win-win fund agreement with Shinhan Bank on the 22nd of this month. This agreement with Shinhan Bank is the third following agreements with Woori Bank and the Korea Development Bank, bringing the total fund size to 34 billion KRW.

Partner companies receiving loans from the fund can benefit from interest rate reductions of up to 2.58%. Hanwha Aerospace stated that this expands financial support opportunities for small and medium-sized partner companies facing liquidity crises due to reduced orders caused by the COVID-19 situation.

A Hanwha Aerospace official explained the purpose, saying, “The competitiveness of our partners is the competitiveness of the company and industry,” and added, “We hope this will help overcome difficult times.”

Hanwha Aerospace has been operating the win-win fund since 2012 and is also engaged in activities such as technical support and sharing performance.

Prior to this, Hanwha Corporation recently signed an agreement with Shinhan Bank for 20 billion KRW, increasing the total size of the win-win fund to 51 billion KRW.

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