Hyundai Motor Group to provide suppliers with $1.5 billion in funding

Reuters

Published Dec 12, 2018 09:31PM ET

Hyundai Motor Group to provide suppliers with $1.5 billion in funding

SEOUL (Reuters) - South Korea's Hyundai Motor Co (KS:005380) plans to provide funding worth 1.7 trillion won ($1.5 billion) to stabilize management of its suppliers, the company said in a statement on Thursday.

The funding is designed to also support research and development and innovation by the suppliers.