HD Hyundai's ocean-sector integrated solution corporations HD Hyndai Marine Solution said on the 7th that it signed a business agreement with IBK Industrial Bank of Korea to create a "supply chain ESG co-prosperity fund" at the HD Hyundai Global R&D Center in Pangyo, Seongnam, Gyeonggi Province.
Under this agreement, HD Hyndai Marine Solution and IBK Industrial Bank of Korea will create a co-prosperity fund worth 30 billion won and use it to offer partner corporations loans and preferential interest rates. IBK Industrial Bank of Korea plans to provide free, customized environmental, social and governance (ESG) consulting tailored to small and midsize corporations and on-site due diligence by specialized institutions. The loan limit per corporation is up to 500 million won, with interest rate reductions of up to 1.06 percentage points (p) based on transaction contribution and credit rating.
HD Hyndai Marine Solution said it expects the co-prosperity fund to reduce the burden on partner corporations in securing working capital and to serve as investment resources for building mid- to long-term growth foundations, such as facility expansion and new business initiatives.
Kim Jeong-hyeok, head of management support at HD Hyndai Marine Solution, said, "Creating the co-prosperity fund is an expression of HD Hyndai Marine Solution's strong commitment to growing with partners and building a sustainable industrial ecosystem," adding, "We plan to continue expanding practical support that can be felt in the field to pursue mutual growth with partners."