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Finance

KB Kookmin Bank consortium picked as preferred bidder for Jeonbuk offshore wind project

A consortium involving KB Kookmin Bank has been selected as the preferred bidder for the Jeonbuk southwest offshore wind public project in South Korea. The project will first develop 800 MW of a planned 2.5 GW offshore wind complex in waters off Buan, North Jeolla Province, under a public-led model in which public institutions hold at least 50 percent. KB Kookmin plans to provide financial advisory services and arrange project financing.

Telecommunications & Media

Southeast Asia to pursue five subsea power cable projects by 2040, governance seen as key

Southeast Asian countries are speeding up efforts to expand regional power grids using subsea power cables, but the main obstacle is institutional, not technical, an analysis said. Energy think tank Ember said ASEAN subsea interconnection projects must prioritise joint planning, cost-sharing standards and a marine governance framework. A plan calling for 18 new and existing links by 2040 includes five subsea projects. Analysts said such networks could bolster energy security and support lower-cost power and low-carbon transition.

Finance

Shinhan Financial joins 117 billion won fund for green port transition infrastructure

Shinhan Financial Group is joining South Korea’s first blind fund for port logistics infrastructure, set up by the Korea Ocean Business Corp with a target size of 223 billion won. Shinhan Financial said on Sunday it held a fund commitment ceremony with the agency and agreed that its Shinhan Asset Management would form and manage a 117 billion won portion. The fund will invest in infrastructure to shift port energy to cleaner sources.