Hanwha and Korea Development Bank expand fund to support partner firms

Hanwha Group and the Korea Development Bank (KDB) have significantly expanded their collaborative fund to support regional economic development. The 'Regional Revitalization Mutual Growth Fund' has been enlarged, demonstrating a commitment to bolstering small and medium-sized enterprises (SMEs) located outside major metropolitan areas.

Under this expanded initiative, Hanwha Group, including entities like Hanwha, Hanwha Solutions, and Hanwha Aerospace, has deposited a total of 50 billion won with KDB. This capital injection is specifically earmarked to reduce the borrowing costs for the group's partner SMEs and mid-sized companies.

The fund's primary objective is to provide crucial financial assistance by lowering interest rates on working capital and facility loans. This measure is designed to alleviate the financial burden on regional businesses, fostering their stability and enabling them to pursue growth opportunities.

By working together, Hanwha and KDB aim to create a more robust and equitable economic landscape. The increased fund signifies a proactive approach to supporting the backbone of the regional economy, ensuring that these vital businesses can thrive despite economic challenges.