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Autos

South Korea export-import bank to offer financial support of $2.7 billion to Hyundai Motor

FILE PHOTO: The logo of Hyundai Motors is seen on a steering wheel on display at the company's headquarters in Seoul, South Korea, March 22, 2019. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - The Export-Import Bank of Korea said on Thursday it signed a memorandum of understanding with Hyundai Motor Co to offer the South Korean automaker financial support worth about 3 trillion won ($2.7 billion) until 2023.

The state bank plans to offer financial support for Hyundai’s infrastructure investment in South Korea and abroad as well as for mergers and acquisition, the bank said in a statement. It did not specify what form of financial support it plans to offer Hyundai.

($1 = 1,131.8900 won)

Reporting by Heekyong Yang; Editing by Tom Hogue

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