▶ Partner companies participating in ESG initiatives to receive preferential interest rate of 2.05% with additional reduction of 0.3%
▶ Strengthening the ESG response capabilities of partner companies through free ESG consulting and field inspection
The three construction equipment companies of HD Hyundai have created an ESG shared growth fund to support financing actively for partner companies joining ESG management.
HD Hyundai XiteSolution, HD Hyundai Construction Equipment, and HD Hyundai Infracore announced on February 15, 2024 (Thursday) that they have jointly established the KRW 20 billion "Supply Chain ESG Shared Growth Fund" with IBK Industrial Bank.
This fund was established to provide practical financial support to partner companies participating in supply chain ESG management construction projects.
Domestic partner companies that have completed the "Supply Chain ESG Self-Diagnosis" led by the three construction equipment companies of HD Hyundai are eligible to apply.
After thorough review by the three construction equipment companies of HD Hyundai and a financial institution, a list of partner companies to receive financial support has been finalized. These selected companies will enjoy a 2.05% reduction in their interest rates, with partner companies that have undergone ESG field inspections to be granted an extra 0.3% preferential benefit.
In addition, IBK Industrial Bank provides ESG consulting and field inspection by external experts free of charge to help partner companies strengthen their ESG response capabilities.
Since last year, the three construction equipment companies of HD Hyundai have been collaborating on an ESG management support program for partner companies to respond proactively to the strengthening of global supply chain regulations and minimize risks.
Furthermore, the three construction equipment companies of HD Hyundai are actively promoting various win-win management practices to relieve the financial burdens of their partner companies and enhance their productivity. These practices include early payment of material costs during the Seollal (Lunar New Year) and Chuseok holidays, financial support for partner facilities, and support for the establishment of a manufacturing execution system to manage and streamline production processes. <End>
■Photo material: CIs of three construction equipment companies of HD Hyundai