HD Hyundai said Wednesday it will supply key shipbuilding materials to small and medium-sized partner companies to help ease production disruptions stemming from the US-Iran conflict.

The support includes ethylene used for steel cutting and base materials for marine coatings. The company plans to secure 2,000 tons of ethylene through HD Hyundai Chemical and begin supplying it from May upon request. It is also reviewing plans to provide xylene for paint production through HD Hyundai Oilbank.

In addition, HD Hyundai will extend financial support to stabilize partner operations across shipbuilding, construction equipment and power systems.

The company will utilize its 400 billion won ($266 million) “Export Supply Chain Credit Guarantee Program,” launched earlier this year, which allows partner firms to secure financing without collateral. The support is set to begin this month and is expected to improve cash flow and facilitate raw material procurement.

“We will proactively secure key materials and provide financial support to ensure stable operations for our partners,” a company official said. “We will continue to monitor conditions and consider additional support measures as needed.”
Source: Korea Herald