- On the 17th, a contribution of 330 million won was made to
the Mutual Cooperation Fund
- The fund will be used for rewarding outstanding partner
companies, providing education support, and facilitating technological
cooperation, among other support measures
- The support for mutual cooperation and co-growth will be
further enhanced, transforming HDC into a socially responsible enterprise that
thrives together with its partner companies
- The mutual cooperation fund has been expanded to 82
billion won, and substantial financial support for partner companies is being
implemented through adjustments in interest rate reductions and other measures.
Hyundai Development Company continues to strengthen its
support for partner companies by contributing to the Coexistence Cooperation
Fund this year as well. On the 17th, Hyundai Development Company allocated 330
million won to the "Cooperation Foundation for Large, Medium, Small
Businesses, and Agriculture" as the Coexistence Cooperation Fund. The
allocated fund will be used for various purposes such as rewarding excellent
partner companies, providing education support, and enhancing technological
cooperation.
Hyundai Development Company has been contributing to the
Coexistence Cooperation Fund since 2020. Starting with a contribution of 100
million won in 2020, it has supported partner companies' workforce development,
technological cooperation, and welfare enhancement with fund contributions of
300 million won each in 2021 and 2022. This year, the fund's size has been
expanded by 10%.
An official from Hyundai Development Company stated,
"We will continue to expand the Coexistence Cooperation Fund not only this
year but also in the future, and further strengthen support for coexistence
cooperation and mutual growth with partner companies." They added,
"By consistently promoting coexistence cooperation activities with partner
companies and enhancing the ESG management system, we will become a socially
trusted company."
Meanwhile, Hyundai Development Company is actively making
efforts to achieve mutual growth with partner companies. Since 2010, it has
been operating a Coexistence Fund program through agreements with financial
institutions. In 2021, the fund size was increased by 100 billion won to 400
billion won from the previous 300 billion won, and in October of last year, it
was further increased to 82 billion won, more than doubling its size, to expand
the coverage of supported partner companies. Additionally, measures such as
adjusting upward the rate of reduction in interest burden and providing
substantial financial support are being implemented to ease financial burdens
for partner companies.
Furthermore, financial support measures such as interest-free emergency loans for relieving financial difficulties of partner companies and advance payment support are also being carried out. Hyundai Development Company also operates the "HDC Campus" education support program for partner company employees, sharing operational guidelines and key management matters, and regularly sends out the "Coexistence Letter" to provide various information to partner companies.