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Hana Bank, Hyundai Mobis and Kibo to provide 500 billion won financial support to partner SMEs

Hana Bank, Hyundai Mobis and the Korea Technology Finance Corp will provide up to 500 billion won in financial support for small and midsized firms that partner with Hyundai Mobis. The three signed a broad memorandum of understanding to supply liquidity and ease financing costs for firms with limited credit or collateral. The two companies will jointly contribute 30 billion won to Kibo to back guarantees, offering full guarantee coverage for 3 years and reduced fees.