LH-KDB Agreement on Funding for Timely Development of National Advanced Industrial Complex

Customized Policy Finance Support for Industrial Complex Resident Companies

Korea Land and Housing Corporation (LH) announced on the 3rd that it signed a financial win-win cooperation agreement with Korea Development Bank (KDB) on the 1st to strengthen the competitiveness of the 'National Advanced Industrial Complex.'

Lee Han-jun, President of Korea Land and Housing Corporation (LH) (right), and Kang Seok-hoon, Chairman of Korea Development Bank (KDB), are posing for a commemorative photo after signing the "Business Agreement to Strengthen the Competitiveness of National Advanced Industrial Complexes" on the 1st. / Photo by LH

This agreement focuses on securing project funds for the timely establishment of the National Advanced Industrial Complex and providing one-stop customized policy finance and service support for the stable and early settlement of tenant companies. Through this, it plans to support securing a super-gap in advanced industries such as semiconductors and secondary batteries. The establishment of the National Advanced Industrial Complex is being promoted as a core national policy goal according to the national advanced industry promotion strategy announced by the government at the 14th Emergency Economic and Livelihood Meeting in March last year.

LH will introduce asset-backed commercial paper (ABCP) for the first time in the industrial complex development. This involves securitizing the pre-sale payment receivables to stably secure project funds. Additionally, LH will collaborate with KDB to create a new cooperation model that provides optimized policy finance services to tenant companies.

After the signing ceremony, LH President Lee Han-jun and KDB Chairman Kang Seok-hoon visited the site of the Yongin Semiconductor Cluster, which is being prioritized among the 15 national advanced industrial complexes, to tour the area together.

President Lee Han-jun said, "We will join forces with KDB to create a virtuous cycle advanced industrial ecosystem that supports the rapid settlement and growth of tenant companies," adding, "We will strive to ensure that the National Advanced Industrial Complex, which will be the production base of advanced industries and the future food source of Korea, is successfully established on time to contribute to strengthening national competitiveness and balanced national development."