SEOUL, May 29 (Yonhap) -- South Korean state-run lender KDB said Friday that it and other financial institutions have provided 480 billion won (US$388 million) in loans to Hyundai Heavy Industries Co., the country's largest shipbuilder.
Of the 480 billion won in so-called green loan, 350 billion won was extended to Hyundai Heavy by KDB.
The rest of the fund was provided by banks, including HSBC and ICBC, and a KDB affiliate.
Green loans usually are offered to finance eco-friendly projects, such as liquefied natural gas (LNG) carriers, renewable energies and high-efficient energies.
Hyundai Heavy will reportedly use the fund to develop technologies for LNG carriers.
BOK's rate cut in the offing, but 'when' still being debated
BOK again faces rate cut pressure on new coronavirus risk
BOK to keep policy rate steady amid signs of recovery
Wealth management service increasingly popular in S. Korea
BOK tipped to continue monetary easing, at least another rate cut in offing