Hana Bank Bands Together with HD Construction Equipment and KODIT for Construction Equipment SMEs

After signing an agreement, Lee Ho-sung (third from let), president of Hana Bank, poses for a photo with officials from HD Construction Equipment and KODIT. (Photo: Hana Bank)

Hana Bank announced that the bank has signed a memorandum of understanding to support shared growth in the Construction Equipment industry with HD Construction Equipment and Korea Credit Guarantee Fund (KODIT).

This agreement was signed to support the sustainable growth of promising small and medium-sized enterprises in the Construction Equipment industry with excellent technological capabilities that are partners of HD Construction Equipment.

The objective is to build a public-private win-win cooperation system to promote the SMEs’ next-generation technology development and exports.

Through this, Hana Bank and HD Construction Equipment have decided to provide financial support of up to 85 billion won by creating a special contribution of 5 billion won — up to 4 billion won from Hana Bank and 1 billion won from HD Construction Equipment.

Initially, the two companies will contribute 1 billion won and then expand the contribution amount depending on the depletion of the fund.

The beneficiaries are partner companies recommended by HD Construction Equipment.

In addition to guarantee certificates with preferential guarantee ratios, up to 100%, and guarantee fee reductions from KODIT, various benefits designed to reduce financial costs will be provided, such as interest rate cuts and preferential exchange rates.

In particular, this agreement consists of two parts — a joint project guarantee (40 billion won) for partner companies participating in future innovation projects, such as the development, and mass production of new HD Construction Equipment models and a win-win growth support guarantee (45 billion won) for all HD Construction Equipment partner companies.

The plan will steadily provide tailored, targeted support to ensure the smooth liquidity of partner companies.

“We inked this agreement to provide practical financial benefits to SMEs in the Construction Equipment sector that possess excellent technological capabilities but are facing difficulties due to high oil prices and rising raw material costs,” said Lee Ho-sung, president of Hana Bank.

“Hana Bank will continue to expand productive financial support to stabilize the management of exporting SMEs and strengthen the competitiveness of high-tech strategic industries.”

Signing Agreement with KOTEC

Hana Bank announced that it signed a financial support agreement with Korea Technology Finance Corporation (KOTEC) at the latter’s Seoul office to help small and medium-sized enterprises make a smooth generational change and achieve technological innovation on May 7.

This agreement aims to resolve issues facing SMEs struggling with corporate succession due to factors such as an aging population, and to support the expansion of technology-innovative companies through M&As.

Hana Bank plans to act as a catalyst to help SMEs pursuing M&As secure competitiveness and continue sustainable growth.

Under this agreement, Hana Bank will contribute a total of 2 billion won (1.5 billion won in special contributions and 500 million won in guarantee fee support) to KOTEC and KOTEC will provide agreement guarantees totaling 65.7 billion won (30 billion won in special contributions and 35.7 billion won in guarantee fee support) using the 2 billion won.

The beneficiaries are acquiring companies pursuing corporate succession and M&As, and working capital and facility funds will be provided to these companies.

Eligible companies can receive preferential benefits such as a guarantee ratio of up to 100% and a guarantee fee cut of up to 0.7%.

Winning Euromoney Prizes

Hana Bank announced on April 28 that it simultaneously picked up the Korea’s Best Private Bank Prize award and the Korea’s Best for Succession Planning Prize at the Private Banking Awards 2026 organized by the global financial magazine Euromoney.

Every year, Euromoney selects the top-tier private banking institutions in each country by comprehensively evaluating global financial institutions based on asset management capabilities, asset succession capabilities, customer services and product competitiveness.

Hana Bank was named as the Best Private Bank in Korea by Euromoney in 2005, becoming the first Korean commercial bank to take home this award.

The lender has since won the award a total of 19 times.