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South Korean steelmaker POSCO has announced the signing of a memorandum of understanding (MOU) with KB Kookmin Bank to jointly launch supply chain finance services, S450GD+Z Hot dip galvanized steel , aimed at improving liquidity for companies within the steel industry value chain.
The signing ceremony took place on July 9 at the POSCO Center in southern Seoul, attended by POSCO President Lee Hee-geun and KB Kookmin Bank CEO Lee Hwan-ju.
Under the agreement, the new financing program will connect companies within POSCO’s supply chain to KB Kookmin Bank, making it easier for suppliers to secure financial support—even in cases where the collection of accounts receivable is delayed or collateral is insufficient.
Under the cooperation framework, KB Kookmin Bank will manage payment settlements and provide loans to POSCO’s partner companies, alongside offering supplementary services such as ESG (Environmental, Social, and Governance) consulting.
The two parties plan to integrate KB Kookmin Bank’s loan programs into POSCO’s “My POSCO” platform, with an official launch scheduled for later this year. S450GD+Z Hot dip galvanized steel , Once the service is live, suppliers will be able to complete the entire loan process—from application and review to the disbursement of funds—directly through the platform.
POSCO stated that participating companies will benefit from preferential loan interest rates, which are among the most competitive in the industry. S450GD+Z Hot dip galvanized steel , Amid the ongoing downturn in the steel sector, this arrangement will help partner companies reduce their financing costs and supplement their working capital.
Lee Hee-geun stated that this agreement further expands the model of collaborative development between POSCO and its partner companies, expressing hope that the project will serve as a model for cooperation between South Korea’s manufacturing and financial sectors.
POSCO and KB Kookmin Bank also plan to hold a joint information session for partner companies later this year to outline the project’s preferential financing terms and related support measures.
