K-SURE to provide $72 mil. in financial support to auto parts suppliers

The Korea Trade Insurance Corp. (K-SURE) will provide up to 100 billion won ($72 million) in special financial support for small and medium-sized auto parts manufacturers to help them cope with the impact of U.S. tariff measures, the industry ministry said Friday. The special support package, aimed at offering preferential financing to Korean auto parts suppliers, includes a combined 8 billion won in special contributions from HL Group and Hana Bank, according to the Ministry of Trade, Industry and Energy. HL Group is a conglomerate group comprising auto parts companies, such as HL Mando and HL Klemove, as well as construction and industrial robotics firms. This marks the second time a private company and a bank will jointly contribute funds to K-SURE to support small and medium-sized enterprises struggling under the U.S. Donald Trump administration's sweeping tariff scheme. Washington currently imposes 25 percent tariffs on Korean cars and auto parts, though it has agreed to lower the rate to 15 percent in a trade deal with Seoul reached in late July. K-SURE signed a cooperation agreemeWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times