South Korea's government is launching a special guarantee program to provide up to 400 billion won ($272.4 million) in financing support to enhance the shipbuilding industry's export competitiveness. The initiative targets small and medium-sized suppliers of HD Hyundai Heavy Industries with low-interest loans. K-SURE, HD Hyundai, and Hana Bank signed a cooperation agreement in Ulsan on Friday.
The Ministry of Trade, Industry and Resources announced on Friday, January 23, 2026, a special guarantee program to bolster the shipbuilding industry's export competitiveness. The initiative will offer up to 400 billion won ($272.4 million) in low-interest loans to small and medium-sized suppliers of HD Hyundai Heavy Industries. HD Hyundai and Hana Bank are contributing a combined 28 billion won, which the state-run Korea Trade Insurance Corp. (K-SURE) will use to provide payment guarantees for the loans.
The cooperation agreement signing ceremony took place in Ulsan, the southeastern city hosting major shipbuilding firms, involving K-SURE, HD Hyundai, and Hana Bank. This measure aims to stabilize the supply chain and enhance global competitiveness amid recent large-scale orders, such as HD Hyundai's 1.5 trillion won LNG ship contract in the U.S. The government seeks to improve liquidity for SMEs and foster growth across the industry ecosystem.
The program underscores the government's proactive role in supporting the sector's recovery. While the shipbuilding industry shows signs of revival, ongoing assistance is deemed necessary amid global trade uncertainties.
