HDC Hyundai Development Company Expands Win-Win Fund Size from 40 Billion to 82 Billion Won

HDC Hyundai Development Company announced on the 5th that starting in October, it will more than double the operating funds for the win-win fund to support partner companies financially and increase the discounted interest rates.

To promote mutual growth and coexistence with partner companies, the scale of the win-win fund, which was operated at 40 billion KRW last year, has been significantly increased to a total of 82 billion KRW, including 62 billion KRW from Industrial Bank of Korea and 20 billion KRW from Woori Bank.

HDC Hyundai Development Company began establishing the win-win fund with 2 billion KRW in 2010 and has expanded the fund size annually, creating a 40 billion KRW win-win fund last year to provide financial support to partner companies.

Additionally, the discounted interest rates have been raised. When partner companies borrow through the win-win fund, the previously applied discounted interest rates of 1.68% from Industrial Bank of Korea and 1.55% from Woori Bank have been increased to 2.04% (an increase of 0.36% from before) and 2.10% (an increase of 0.55% from before), respectively.

With this increase in discounted interest rates, general secured loans will have interest rates in the 3% range, and unsecured loans will have rates in the 5% range, which is expected to reduce the interest burden on partner companies.

HDC Hyundai Development Company stated, "With the extension of the win-win fund agreement, the fund deposit has been significantly increased by 42 billion KRW compared to before, allowing more partner companies to benefit from financial support."

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