POSCO, KB Kookmin Bank make banking easier for partner firms
Steelmaker POSCO has forged a partnership with KB Kookmin Bank to introduce a supply chain finance service for its partner firms, helping improve cash flow for suppliers amid a prolonged downturn in the steel industry. POSCO President Lee Hee-keun and KB CEO Lee Hwan-ju signed a memorandum of understanding (MOU) on Thursday at the steelmaker's office in Seoul. The new service is a financial system that connects financial institutions with companies participating in a supply chain from production to distribution to increase liquidity throughout the supply chain. It is designed as a win-win model that helps the cash flow of client companies that face difficulties in preparing funds due to delays in payments or a lack of collateral. Under the MOU, POSCO, its client companies and KB will be linked in a structure where the bank takes full charge of collecting sales payments and provides clients with both financial and nonfinancial services, including corporate loan support and environmental, social and governance consulting. The two companies will begin developing a system that integrates KB
7/11/2026 11:32:03 PM