[DigitalToday reporter Ji-young Lee] Hana Bank is moving to support efforts to strengthen the competitiveness of South Korea's robot industry. It plans to expand financing support for advanced industries by supplying 9 billion won in agreement guarantees to small and midsized partner companies developing next-generation robot solutions and seeking to enter overseas markets.

Hana Bank said on May 21 it signed a business agreement on May 20 with HD Hyundai Robotics and the Korea Credit Guarantee Fund to develop next-generation robot solutions and boost entry into overseas markets.

The agreement was set up to support technology development and strengthen global export competitiveness for companies in the advanced robot industry, which is drawing attention as a future core industry.

Hana Bank and HD Hyundai Robotics will each make special contributions of 480 million won and 120 million won to the Korea Credit Guarantee Fund. Based on that, the fund plans to provide a total of 9 billion won in agreement guarantees.

Those eligible for support are outstanding partner companies participating in joint projects with HD Hyundai Robotics. Hana Bank and the Korea Credit Guarantee Fund will provide working capital and other support to the small and midsized companies.

In particular, the Korea Credit Guarantee Fund plans to offer preferential benefits, including a 100 percent guarantee coverage ratio and a fixed guarantee fee rate for 5 years after the first guarantee is issued, to reduce companies' financial cost burdens.

A Hana Bank official said, "We pursued this cooperation to create a win-win ecosystem in which large companies and small companies can grow together in the advanced robot industry." The official added, "Based on cooperation with related institutions, we will actively support small companies' global expansion."