Shinhan Bank Partners with OCI Holdings for Productive Finance... Guarantees and Loans for New Semiconductor Materials Plant

Shinhan Bank announced on the 21st that it has signed a Financial Business Agreement with OCI Holdings for "Productive Financial Support and Future Growth Partnership."

Sung Hyuk Jung, President of Shinhan Bank (left), and Woo Hyun Lee, Chairman of OCI Holdings, are posing for a commemorative photo after signing a business agreement for "supporting productive finance and future growth cooperation" at the OCI Building in Jung-gu, Seoul on the 20th. Photo by Shinhan Bank

Regarding this, a signing ceremony was held the previous day at the OCI Building in Jung-gu, Seoul, attended by Sung Janghyuk, President of Shinhan Bank, WooHyun Lee, Chairman of OCI Holdings, and others.

Through this agreement, the two companies will pursue financial support and intermediation for facility investment and working capital related to future growth businesses, including semiconductors and advanced materials, as well as for building a global solar power value chain. They also plan to cooperate in supporting green finance to achieve carbon neutrality.

As the first step, Shinhan Bank will provide direct financial support, including an SBLC (Standby Letter of Credit) and foreign currency loans through its Singapore branch, for the construction of a new semiconductor-grade polysilicon plant by 'OTSM,' OCI Holdings' joint venture in Malaysia, with an investment of USD 435 million. This aligns with the purpose of productive finance, as financial support leads to industrial facility expansion and corporate growth.

A Shinhan Bank official stated, "It is significant to support the competitiveness and future expansion of the advanced materials industry through finance," adding, "We will continue to expand productive finance that supports corporate production activities and innovative growth."

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