Hyundai Motor Company Signs Business Agreement with Korea Federation of Micro Enterprise to Support Vehicle Purchases for Small Business Owners

[Asia Economy Reporter Yoo Hyun-seok] Hyundai Motor Company announced on the 1st that it has signed a business agreement with the Korea Federation of Micro Enterprise and will provide purchase support benefits for Casper and Casper Van vehicles to small business owners enrolled in the Yellow Umbrella Mutual Aid.

The Yellow Umbrella Mutual Aid is a mutual aid system operated by the Korea Federation of Micro Enterprise for the business and livelihood stability of small businesses and small business owners, with 25% of small businesses and small business owners nationwide enrolled.

Through this agreement, Hyundai Motor will offer various purchase benefits to customers enrolled in the Yellow Umbrella Mutual Aid when purchasing Casper and Casper Van vehicles, including ▲6-month interest-free grace period installment plans ▲exclusive card cashback ▲down payment support.

The 6-month interest-free grace period installment plan differs from the existing grace period installment plan where interest is paid during the grace period. In this plan, no interest is paid during the initial 6-month grace period of the 48-month installment period (no monthly payment), and monthly installments are paid thereafter, reducing the initial financial burden.

Additionally, Hyundai Motor offers a reduced interest rate when choosing the ‘deferred installment’ option, which postpones part of the principal to lower the monthly installment payment burden. Various installment benefits are also provided to reduce the purchase burden for small business owners, such as applying low interest rates in the 1% range when selecting the ‘standard installment’ plan, which requires equal monthly payments, for a period of up to 60 months.

The exclusive card cashback provides a 200,000 KRW cashback when customers pay 5 million KRW or more using the Hyundai Motor exclusive card and use Save Auto. Furthermore, down payment support offers 100,000 KRW for the vehicle purchase down payment.

All purchase benefits can be applied cumulatively, which is expected to further reduce the vehicle purchase burden for small business owners. The benefits apply to customers enrolled in the Yellow Umbrella Mutual Aid who complete contracts from this month through December. More detailed information about the purchase benefits can be found on the Casper website after verifying membership in the Yellow Umbrella Mutual Aid.

A Hyundai Motor official stated, “Through this business agreement, we have enabled small business owners exhausted by COVID-19 to receive more practical benefits when purchasing Casper vehicles,” and added, “We plan to collaborate in various ways with the Korea Federation of Micro Enterprise to provide support to small business owners in the future.”

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