Four Policy Finance Institutions Including SanGin Execute First Investment in Shipping 'Newbuilding Support Program'

Support for Building 5 LPG Carriers Worth $390 Million... Subordinated Funding of $78 Million Invested

[Asia Economy Reporter Yu Je-hoon] On the 12th, four policy financial institutions?KDB Industrial Bank, Korea Ocean Business Corporation, Export-Import Bank of Korea, and Korea Asset Management Corporation?announced that they have executed the first project investment of the 'Newbuilding Support Program' to strengthen the competitiveness of the domestic shipping industry by securing high-efficiency and eco-friendly vessels for Korean shipping companies.

The Newbuilding Support Program targets foreign cargo vessels newly ordered by Korean shipping companies, operating on a total scale of $1.5 billion (based on ship price). KDB Industrial Bank and Korea Ocean Business Corporation serve as joint lead managers, and the four institutions participate equally in subordinated investments.

The first investment is financial support for the construction of five ultra-large LPG carriers ordered by a Korean shipping company, with a total ship price of $390 million. Among this, the four policy financial institutions jointly invested $78 million in subordinated capital.

KDB Industrial Bank stated, "Starting with this first investment, we plan to continuously provide financial support necessary for expanding the introduction of eco-friendly vessels by Korean shipping companies. We will support the domestic shipping industry to secure long-term competitiveness amid international environmental regulations."

This content was produced with the assistance of AI translation services.