K-SURE to provide $455.4 mil. in financing support to auto parts suppliers

The Korea Trade Insurance Corp. (K-SURE) will provide up to 630 billion won ($455.4 million) in special financing support for small and medium-sized suppliers of Korean automotive giants Hyundai Motor Co. and Kia Corp. to help reduce their financial burden stemming from U.S. tariff measures, the industry ministry said Monday. The special support package, aimed at offering low-interest loans to Korean auto parts manufacturers, includes a combined 10 billion-won special contribution from Hyundai and Kia, the first special contribution made by private companies to K-SURE, along with a 30 billion-won contribution from Hana Bank, according to the Ministry of Trade, Industry and Energy. The three sides held a cooperation agreement signing ceremony for the special program Monday at the headquarters of DY Auto Corp., an auto parts manufacturer based in the central city of Asan. The low-interest loans will help auto parts companies stably supply their products to the carmakers and also make investments to enhance their fundamental competitiveness while navigating export uncertainties caused by 2Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times