Hana Bank Supports K-Robot Development with HD Hyundai Robotics and Credit Guarantee Fund

Hana Bank is set to provide 9 billion won ($7 million) in financial support to enhance the global competitiveness of South Korea's robot industry. The initiative aims to support not only the technological development of robotics companies but also their overseas exports.

On May 21, Hana Bank announced that it has signed a memorandum of understanding (MOU) with HD Hyundai Robotics and the Credit Guarantee Fund to promote the development of next-generation robotic solutions and facilitate entry into international markets.

This MOU is part of Hana Financial Group's 'Hana All Growth Project,' which aims to inject a total of 100 trillion won ($75 billion) over five years, including 84 trillion won ($63 billion) in productive finance, by 2030.

HD Hyundai Robotics, a leader in the domestic industrial robot market, is accelerating the development and mass production of physical artificial intelligence (AI)-based collaborative robot technology.

Under the agreement, Hana Bank and HD Hyundai Robotics will each contribute 4.8 billion won ($3.6 million) and 12 billion won ($9 million) to the Credit Guarantee Fund. The fund will use these resources to provide a total of 9 billion won in guarantee support.

The beneficiaries will be outstanding partner companies participating in joint projects with HD Hyundai Robotics. Hana Bank and the Credit Guarantee Fund plan to provide these companies with working capital (short-term liquidity funds).

Additionally, the Credit Guarantee Fund will offer preferential benefits for five years after the initial guarantee, including a 100% guarantee rate and fixed guarantee fee rates.

A Hana Bank representative stated, "We will continue to provide comprehensive support as a reliable global partner for small and medium-sized enterprises."