South Korean bank loans KNOC $1 billion to invest

摘要

Seoul-South Korea's state-owned trade financier, the Export-Import Bank of Korea, will provide a loan of $1 billion to state-run Korea National Oil Corporation to boost the company's investments in overseas oil projects. KNOC will use the funds to buy stakes in overseas oil fields or interests in foreign oil companies, the bank said in a statement. KNOC and the bank have yet to identify the projects to finance and other details, such as the maturity and terms of the loan.