HD Hyundai Robotics launches fund for automation systems in SMEs

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HD Hyundai Robotics launches fund for automation systems in SMEs

Published: 02 Dec. 2024, 15:53

LEE JAE-LIM
[email protected]

Logo of HD Hyundai Robotics [HD HYUNDAI]

HD Hyundai Robotics and the Industrial Bank of Korea (IBK) established a 10 billion won ($7.1 million) fund to support small- and medium-sized enterprises (SMEs) in the adoption of automation equipment.

The fund was established with an aim to assist SMEs struggling with persistent labor shortages, according to the robotics subsidiary on Monday.

Companies purchasing industrial robots from HD Hyundai Robotics can benefit with an annual interest rate reduction of 1.78 percent through the fund to reduce their financial burden.

HD Hyundai Robotics expects the expansion of automation systems to improve workplace safety and attract more labor.

“This initiative aims to help alleviate labor shortages among SMEs, which are the backbone of domestic industry,” an HD Hyundai Robotics spokesperson said in a statement. “We plan to further promote collaborate growth with SMEs and other partners through various ways.”

BY LEE JAE-LIM [[email protected]]