HD Hyundai Oilbank, SK Energy Increase Crude Oil Purchase Loan Limits... "Supply Chain Stability"

[Financial News] Through the Supply Chain Stabilization Fund, KEXIM will increase the loan limits for crude oil purchase financing for HD Hyundai Oilbank and SK Energy.
On the 21st, KEXIM announced that it would raise HD Hyundai Oilbank's loan limit for crude oil purchase financing to KRW 600 billion and SK Energy's to $370 million. The currencies were determined according to the borrowers' preferences.
As refiners face a growing burden in financing crude oil purchases amid the prolonged war in the Middle East, KEXIM expects the measure to help them secure non-Middle Eastern crude oil smoothly. It is an emergency measure to stabilize crude oil supplies. KEXIM also plans to support transactions involving non-Middle Eastern crude oil, thereby promoting the stable procurement of crude oil, an item critical to economic security, and diversifying import sources.
A KEXIM official said, "We will contribute to energy security by supporting the government's emergency measures, including the ninth freeze on the maximum oil price, the resumption of the strategic oil swap program, and the extension of emergency supply-and-demand adjustments for naphtha and petrochemical products. We will continue to proactively respond to energy supply and demand risks."
[email protected] Park Moon-soo Reporter