BEIJING, Dec. 20 (Xinhua) -- Korea Development Bank (KDB) and Industrial and Commercial Bank of China (ICBC) have signed a memorandum of understanding (MOU) on mutually providing a credit line of up to 500 million U.S. dollars, according to a report published by hdfin.stheadline.com on December 13.
Under the MOU, KDB will provide ICBC’s Seoul branch with funds in Korean won and ICBC will offer yuan-denominated loans to KDB’s branch in China.
The two sides will reportedly strengthen the cooperation in multiple fields including project search, financing, bond issuance and M&A. (Edited by Yang Yifan, yangyifan@xinhua.org)
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