**Hana Bank Collaborates with HL Mando for 8 Billion KRW Joint Investment, Offering Full Guarantee Fee Support to KAC and Other Benefits**
On the 17th, Hana Bank, in conjunction with HL Mando and the Korea Trade Insurance Corporation, visited KAC, the first beneficiary of the financial support for strengthening the export supply chain of the automotive parts industry. They delivered a guarantee certificate and committed to continuing robust financial support, including liquidity assistance. This event took place at KAC’s Ban-gye plant in Wonju, Gangwon Province. Present at the event were Jin Geon-chang, Head of the Foreign Exchange Business Division at Hana Bank (third from the left), Seong-il Kim, Vice President of HL Mando (first from the left), Young-bong Ha, CEO of KAC (second from the left), and Jin-uk Jang, Vice President of Korea Trade Insurance Corporation (fourth from the left). / Provided by Hana Bank.
According to Hana Bank on the 18th, this financial support initiative is a part of an agreement between Hana Bank and HL Group, established in September to stabilize the management of automotive parts export companies facing potential direct and indirect losses due to the implementation of mutual tariffs by the U.S. Hana Bank contributed 6 billion KRW, and HL Mando contributed 2 billion KRW, forming a 12 billion KRW export financing program.
The program targets affiliate companies recommended by HL Mando, offering substantial financial benefits such as full guarantee fee support, preferential loan interest rates, and favorable terms on foreign exchange fees and exchange rates.
KAC, the first company selected for the guarantee, is a small and medium enterprise that manufactures automotive parts, such as steering systems, supplying to HL Mando and others. Ha Young-bong, CEO of KAC, commented, “Amidst growing financial burdens due to economic uncertainties both domestically and internationally, this financial support initiative for strengthening the export supply chain of the automotive parts industry was recommended to us. With the provision of full guarantee fee support in addition to preferential guarantee limits, we anticipate a significant boost in our export competitiveness.”
Jin Geon-chang, Head of the Foreign Exchange Business Division at Hana Bank, expressed, “We are delighted to see the fruition of the ‘financial support for strengthening the export supply chain of the automotive parts industry,’ a collaboration between the public and private sectors to resolve management crises faced by export companies,” and added, “Hana Bank will continue to provide diverse financial supports to invigorate corporate investment and exports.”