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Finance

KB Kookmin Bank arranges 4 trillion won financing for U.S. LNG infrastructure

KB Kookmin Bank has completed the arrangement of financing for a U.S. offshore LNG infrastructure development project. The bank said it completed joint arrangement of project financing for the Delfin floating liquefied natural gas development project, with the financing agreement signed on June 3 local time. The syndicated financing totals $2.676 billion, or about 4 trillion won, and KB Kookmin Bank arranged and participated with $160 million.

Finance

Shinhan, Hana and Woori expand supply chain finance with Korea Trade Insurance Corp for shipbuilding

Shinhan Bank, Hana Bank and Woori Bank are expanding financing with the Korea Trade Insurance Corp to support the shipbuilding industry’s supply chain. The banks and shipbuilders signed an agreement in Ulsan on May 13. Shinhan and Samsung Heavy Industries will jointly contribute 21.3 billion won, which will back 300 billion won in special guarantees. Hana will pursue 400 billion won in financing with HD Hyundai Heavy Industries, while Woori and Hanwha Ocean will supply 300 billion won in shared-growth financing.

AI & Enterprise

MSIT to support HD Hyundai Heavy Industries in easing cybersecurity risks

South Korea\'s Ministry of Science and ICT said it will work with HD Hyundai Heavy Industries to strengthen information security capabilities in the shipbuilding and port industry. The ministry said it signed a memorandum of understanding among KISA and HD Hyundai Heavy Industries in Ulsan to support cybersecurity for small and medium-sized firms in the smart shipbuilding and port sector and to build a regional security ecosystem. It cited rising supply-chain cyberattacks.