Kia and Shinhan Bank Sign MOU for Exclusive Financial Support for Autoplus Franchises and Dealerships

Strengthening Mutual Growth with Exclusive Loan Products for Autoplus Franchises and Dealerships
Loan Screening Using Sales Data and Customized Financial Consultation Services

Kia will provide dedicated financial products to strengthen the competitiveness of its partners and foster mutual growth with dealerships.

From the left, Jang Hosik, Head of CIB Corporate Group at Shinhan Bank, and Jung Wonjung, Vice President and Head of Domestic Business Headquarters at Kia, are posing for a commemorative photo. Kia

On May 12, Kia announced that it had signed a “MOU for Exclusive Financial Support for Autoplus and Dealerships” with Shinhan Bank, targeting Autoplus franchises and sales dealerships.

The signing ceremony for the financial business agreement took place at the Kia brand experience center, Kia360, located in Apgujeong-dong, Seoul, with key officials in attendance, including Chung Wonjung, Vice President and Head of Domestic Business Division at Kia, and Chang Hosik, Head of CIB Large Corporate Group at Shinhan Bank (Vice President).

This agreement aims to support Autoplus franchises and sales dealerships that require significant funding for new licensing and facility expansion, helping them operate their businesses stably and invest in infrastructure.

Together with Shinhan Bank, Kia plans to offer dedicated loan products for Autoplus franchises and dealerships, which can be used for facility payments and working capital. These exclusive products are expected to reduce financial burdens for franchises and dealerships by offering lower interest rates compared to commercial banks.

In addition, warranty repair revenue and sales commission data will be used in the loan screening process. With the consent of franchise and dealership owners, data on warranty repair revenue from Autoplus and commission data from dealerships will be reflected in the loan review, providing reasonable loan conditions tailored to the characteristics of their businesses. However, specific terms such as interest rates and limits may vary depending on the results of the bank’s assessment.

Autoplus franchise owners and dealership principals who receive product guidance from Kia and Shinhan Bank can receive not only loan consultations but also various financial solutions necessary for business operations, such as fund management and deposits, through a 1:1 pre-matched nearby Shinhan Bank branch.

A representative from Kia stated, “We expect that this financial business agreement will provide a foundation for Autoplus franchises and dealerships to operate their businesses more stably,” adding, “We will continue to pursue practical support measures across various industries to achieve mutual growth with our partners and dealerships.”

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