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- 07-14-2020
Gwangju Bank provides 42.2 billion won in operating capital to Daehan Shipbuilding
Gwangju Bank provides 42.2 billion won in operating capital to Daehan Shipbuilding
Gwangju Bank announced that it has provided 21.2 billion won in operating capital to local shipbuilders, Daehan Shipbuilding.
The government plans to provide an additional 21 billion won in August this year, totaling 42.2 billion won.
The shipbuilding industry is in a difficult situation due to the dull global shipbuilding industry and the influence of Corona 19 in the financial market.
The KDB, Daehan Shipbuilding’s main creditor bank, will provide payment guarantees and provide operating funds such as purchasing raw materials needed to build 20 ships.
Established in 1987, Daehan Shipbuilding received orders for medium-sized tankers at home and abroad, and received orders for 113 ships and 93 of them by March this year. So they rank first in the world market share.
Song Jong-Wook, president of Gwangju Bank, said, "It is the responsibility of regional representative banks to help competitive small and medium-sized enterprises operate and revitalize the regional economy on time." and added, “We will make financial support policy to revitalize of regional shipbuilders and to coexist with them.”