Hana Bank, Hyundai Mobis and the Korea Technology Finance Corporation have signed an agreement to support smaller Hyundai Mobis suppliers that face financing constraints because of limited credit standing or collateral. Hana Bank and Hyundai Mobis will contribute a combined 30 billion won—24 billion won from the bank and 6 billion won from the auto-parts maker—to operate a guarantee program capable of supplying up to 500 billion won in liquidity. Hyundai Mobis-recommended suppliers will be eligible for funding for research and development, facility investment and working capital. The program will provide 100% guarantee coverage for three years, reduce the guarantee fee rate by 0.4 percentage points during that period and cover all guarantee fees in the first year. Hana Bank also plans to support smaller companies developing physical artificial-intelligence technologies such as robotics and autonomous driving.