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KDB, others extend 480 bln-won green loan to Hyundai Heavy

Finance 16:52 May 29, 2020

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.

This file photo provided by Hyundai Heavy Industries Co. shows a LNG carrier. (PHOTO NOT FOR SALE) (Yonhap).

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.


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