KB Kookmin Bank Signs Semiconductor Export Supply Chain Deal With SK hynix and Korea Trade Insurance Corp.
IT DAILY ·
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KB Kookmin Bank signed a business agreement with SK hynix and Korea Trade Insurance Corp. to strengthen the semiconductor export supply chain.
The agreement was signed on the 19th at the Yongin semiconductor cluster, with the goal of strengthening the semiconductor export supply chain and improving financing conditions for SK hynix suppliers.
KB Kookmin Bank and SK hynix will make joint contributions, while Korea Trade Insurance Corp. will provide preferential guarantees worth a total of KRW 250 billion, and Raon Robotics was selected as the first beneficiary company.
KB Kookmin Bank said on the 20th that it had signed a business agreement with SK hynix and Korea Trade Insurance Corp. to strengthen the semiconductor export supply chain and had established a support framework for the semiconductor export supply chain. The agreement was signed on the 19th at the Yongin semiconductor cluster.
The purpose of the agreement is to strengthen the export supply chain in semiconductors, a key domestic industry, and improve financing conditions for outstanding suppliers to SK hynix. Support will be provided by combining bank and semiconductor company contributions with guarantee support from Korea Trade Insurance Corp., helping suppliers in the supply chain secure financing.
On the 19th, a ceremony and business meeting titled "A mutually beneficial trade finance agreement ceremony and company meeting to strengthen the semiconductor export supply chain" was also held. The commemorative photo at the ceremony and meeting included Jang Young-jin, president of Korea Trade Insurance Corp.; Lee Won-jong, vice president of KB Kookmin Bank's CIB Sales Group; Seo Yu-seok, vice president of Hana Bank; Minister of Trade, Industry and Energy Kim Jeong-kwan; Kwak No-jeong, CEO of SK hynix; Bae Yeon-su, vice president of Woori Bank; and Jang Ho-sik, vice president of Shinhan Bank. The photo was provided by KB Kookmin Bank.
KB Kookmin Bank and SK hynix will jointly pay a special contribution, and Korea Trade Insurance Corp. has established a structure under which it will provide preferential guarantees worth a total of KRW 250 billion based on those funds. The support targets key suppliers recommended by SK hynix. The agreement aims to help SK hynix suppliers and enhance the stability of the semiconductor export supply chain by linking bank and guarantee institution financial support.
Under the agreement, the three institutions have divided their roles. SK hynix will recommend suppliers, KB Kookmin Bank and SK hynix will make the joint contributions, Korea Trade Insurance Corp. will provide the guarantees, and KB Kookmin Bank will handle the financial support. Accordingly, when SK hynix recommends a supplier, Korea Trade Insurance Corp. will provide preferential guarantees, and KB Kookmin Bank plans to continue providing financial support to those suppliers based on that.
To ease suppliers' financing burdens, KB Kookmin Bank will support the full guarantee fee for three years regardless of the loan amount. As a result, suppliers can secure operating funds without any guarantee fee burden.
Minister of Trade, Industry and Energy Kim Jeong-kwan, Korea Trade Insurance Corp. President Jang Young-jin, SK hynix CEO Kwak No-jeong, and Lee Won-jong, vice president of KB Kookmin Bank's CIB Sales Group, attended the agreement ceremony. The day's "KB Kookmin Bank No. 1 Guarantee Certificate Delivery Ceremony" was also held, and Raon Robotics was selected as the first beneficiary company.
A KB Kookmin Bank official said the agreement is expected to contribute to enhancing the competitiveness of the domestic semiconductor industry and building a stable growth base for suppliers. The official added that the bank will continue to provide financial support for the growth of key national industries and to strengthen companies' global competitiveness.
Source: IT DAILY · Lee Jae-young
Original: https://www.itdaily.kr/news/articleView.html?idxno=242300
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Source: IT DAILY
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