Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Business

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

By Reuters
Hyundai Motor Group to provide suppliers with $1.5 billion in funding
FILE PHOTO - A worker works at an assembly line of Hyundai Motor's plant in Asan, South Korea, January 27, 2016. REUTERS/Kim Hong-Ji/File Photo -
Copyright
Kim Hong-Ji(Reuters)
Euronews logo
Text size Aa Aa

SEOUL (Reuters) - South Korea's Hyundai Motor Co <005380.KS> plans to provide funding worth 1.7 trillion won (1.2 billion pounds/$1.5 billion) to stabilise 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.

(Reporting by Heekyong Yang)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.