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Hyundai Heavy to receive 480 bln-won green loan

Hyundai Heavy to receive 480 bln-won green loan

South Korean state-run lender KDB announced that tthe company and the other financial institutions supported Hyundai Heavy Industries Co, the country's largest shipbuilder, with 480 billion won in loans.

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For the 480 billion won in so-called green loan, KDB has lent 350 billion won to Hyundai Strong.

Banks, including HSBC and ICBC, and an associate of KDB received the remainder of the budget.

Eco loans are typically given to fund environmentally sustainable projects such as transporters of liquefied natural gas (LNG), renewable energy, and high-efficiency technologies.

The fund is currently being used by Hyundai Heavy to develop technology for LNG carriers.

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