HD Hyundai moved to support small and midsize partner companies struggling with materials and supplies procurement and expense burdens due to the Middle East war.
HD Hyundai said on the 8th that it will supply partners with ethylene and other materials and supplies essential for shipbuilding, such as paint ingredients, while also providing financial support.
HD Hyundai plans to preemptively secure key materials and supplies through its refining and petrochemical affiliates and provide swift support if partners face disruptions in procurement.
For ethylene, which is used to cut ship steel plates, the company will procure 2,000 tons through HD Hyundai Chemical and begin supplying it as early as next month upon partner request.
In addition, it is reviewing a plan to supply xylene, a key paint ingredient, to partners through HD Hyundai Oilbank.
Financial support for partners will also be provided. In connection with policy finance, it plans to support partners in the shipbuilding, construction machinery, and power equipment sectors.
In particular, through the "export supply chain enhancement guarantee product," created at the start of this year with a scale of 400 billion won, it will help partners secure funds without collateral. The first partner support will be carried out this month.
HD Hyundai will review additional support measures while checking each partner's management situation.
An HD Hyundai official said, "The greater the external uncertainty grows, the more partner burdens inevitably increase," adding, "By combining preemptive securing of core materials and supplies with financial support, we will help partners continue stable production activities."