HD Hyundai expands supplier support pact to second- and third-tier partners

  • HD Hyundai signed a cooperation agreement with first-, second- and third-tier suppliers.
  • Approximately 7,500 partner companies are expected to benefit from the agreement.
  • Five affiliates will pay partner invoices using cash or cash-equivalent instruments.

HD Hyundai has signed a Joint Agreement for Mutual Growth Cooperation with first-, second- and third-tier suppliers at the HD Hyundai Heavy Industries Ulsan Shipyard. The group expects approximately 7,500 partner companies to benefit from support covering finance, productivity, workplace safety and technology, alongside measures to stabilize suppliers' management and strengthen competitiveness. Five HD Hyundai affiliates will pay all invoices to partner companies in cash or cash-equivalent instruments. First- and second-tier suppliers will also improve payment terms for second- and third-tier suppliers, respectively, and expand mutual growth payments. The group will provide financial programs, education and equipment, protect supplier technology through a technology escrow system and support stronger cybersecurity capabilities.

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