NH NongHyup Bank said it is moving to provide 500 billion won ($500 million) in financial support to OCI as part of efforts to foster future strategic industries.
The bank said April 29 that it signed a financial cooperation agreement with OCI aimed at expanding “productive finance” and supporting future strategic industries.
Under the agreement, NH NongHyup Bank plans to provide a total of 500 billion won in productive financing over the next three years. The bank said the support will go beyond simple funding to meet company needs, including technology development, facility investment and overseas exports.
“We will do our best to serve as a reliable financial partner for OCI’s growth,” bank President Kang Tae-young said. “We will continue to contribute to national economic growth through productive financial support.”
OCI is a chemical materials company that produces basic chemicals and advanced semiconductor materials, including polysilicon for semiconductors and hydrogen peroxide.
* This article has been translated by AI.
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