KB Kookmin Bank said on Oct. 20 it signed a memorandum of understanding (MOU) with SK hynix and Korea Trade Insurance Corp. (K-SURE) to strengthen the semiconductor export supply chain. Under the agreement, KB Kookmin Bank and SK hynix will make joint special contributions, which K-SURE will use to provide preferential guarantees totaling 250 billion won.
The partnership aims to strengthen the semiconductor export supply chain and improve financing conditions for key SK hynix suppliers. Eligible companies will be major suppliers recommended by SK hynix.
KB Kookmin Bank will cover the full cost of guarantee fees for three years, regardless of loan size, to reduce suppliers' financing burdens. The arrangement will allow participating companies to secure working capital without paying guarantee fees.
The signing ceremony was held on Oct. 19 at the Yongin Semiconductor Cluster, attended by Kim Jung-kwan, minister of Trade, Industry and Resources; Jang Young-jin, chairman and president of K-SURE; Kwak Noh-jung, CEO and president of SK hynix; and Lee Won-jong, executive vice president and head of the Corporate and Investment Banking Group at KB Kookmin Bank. The ceremony was followed by the presentation of KB Kookmin Bank's first guarantee certificate, with Raon Robotics named as the first beneficiary.
