Financial Support for Secondary Battery Business... KB Partners with POSCO Chemical

Support for Credit Limit of 1 Trillion Won

On the 26th, at the KB Kookmin Bank headquarters in Yeongdeungpo-gu, Seoul, Woo Sang-hyun, Head of the CIB Customer Group at KB Kookmin Bank (left), and Kim Juhyun, Head of Planning Support Division at POSCO Chemical, are posing for a commemorative photo during the 'Financial Support Agreement Ceremony to Strengthen Competitiveness of Secondary Battery Core Materials.' (Photo by KB Kookmin Bank)

[Asia Economy Reporter Minwoo Lee] KB Kookmin Bank is partnering with POSCO Chemical to provide financial support for the secondary battery business.

On the 27th, KB Kookmin Bank announced that it signed a financial support business agreement with POSCO Chemical at its Yeouido headquarters in Yeongdeungpo-gu, Seoul, on the previous day to "strengthen competitiveness in core secondary battery materials."

Accordingly, KB Kookmin Bank plans to provide POSCO Chemical with a credit limit of 1 trillion KRW. When POSCO Chemical requests loans for domestic facility investments related to core secondary battery materials, overseas business, and import/export, funds will be provided promptly through swift screening to ensure timely support.

KB Financial Group is focusing on the eco-friendly energy sector. Last September, it became the first domestic financial group to join the global campaign "RE100," which aims to convert 100% of the total electricity used by all affiliates to renewable energy by 2040. To this end, last year, it signed a business agreement with POSCO Energy for "ESG (Environmental, Social, and Governance) value implementation and successful execution of RE100," collaborating on POSCO Energy's renewable energy projects.

A KB Kookmin Bank official said, "We will continue to strive for mutual growth through active cooperation in various fields related to eco-friendly businesses."