HD Hyundai said on the 14th that it will pay 740 billion won in materials costs up to nine days earlier to support partners struggling as the Middle East war drags on.
The move comes as partners face greater funding burdens due to global supply chain instability and rising raw material prices.
HD Hyundai Heavy Industries and HD Hyundai Samho will make advance payments totaling 568 billion won, while HD Hyundai Marine Engine and HD Hyndai Marine Solution will each expedite 25.7 billion won and 10 billion won, respectively. HD Hyundai Electric will move up 133 billion won in payments.
HD Construction Equipment plans to shorten the adjustment cycle for reflecting raw material price fluctuations in delivery payments and to swiftly incorporate partners' urgent requests.
Earlier, on last month, HD Hyundai secured key shipbuilding materials and supplies such as ethylene and paint ingredients to support partners.
An HD Hyundai official said, "This is a measure to support partners' stable business activities amid ongoing external uncertainties," adding, "As partners are a community of shared destiny, we will continue to implement win-win measures for co-growth."