Hyundai Commercial, Hyundai Mobis, and KAMCO Provide 300 Billion KRW Support to Auto Parts Suppliers

Hyundai Commercial, Commitment to Invest 50 Billion Won

[Asia Economy Reporter Yu Je-hoon] Hyundai Commercial announced on the 29th that it has signed a 'Business Agreement to Support the Automotive Parts Industry' with Hyundai Mobis and Korea Asset Management Corporation (KAMCO).

This agreement was promoted to efficiently operate the Loan-type Corporate Support Fund (PDF) No. 3, established by KAMCO with a total scale of 300 billion KRW. KAMCO, as the lead manager, invested 100 billion KRW, and Hyundai Commercial committed to investing 50 billion KRW to provide smooth financial support to automotive parts suppliers.

Through this agreement, Hyundai Commercial will be responsible for overall consulting on the market status of parts companies and financial support. KAMCO will establish the loan-type corporate support fund, and Hyundai Mobis will cooperate in recommending parts companies in need of support and providing financial assistance.

Since 2020, Hyundai Commercial has supported operating funds for partner companies through the loan-type corporate support fund in collaboration with KAMCO. Through this, 34 partner companies of Hyundai Motor and Kia received approximately 540 billion KRW in support, securing financial liquidity.

A Hyundai Commercial official stated, "We expect that through this agreement, partner companies will secure financial liquidity and it will help respond to the future vehicle transition of the parts industry," adding, "Hyundai Commercial will continue to expand various support through collaboration with Hyundai Motor Group and external organizations."

Meanwhile, since 2011, Hyundai Commercial has been operating the 'Win-Win Growth Fund' with Hyundai Motor Group to support partner companies' operating funds and facility investment costs. So far, it has helped stable management activities by providing financial support worth 3.2 trillion KRW to about 300 partner companies.

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