Korea's policy bank will ensure funding for Korean state-owned oil companies to purchase crude oil.

MaticHoleFiller · 2026-03-30T19:00:48+00:00

Korean Industrial Bank and other institutions held an emergency meeting to discuss responses to the energy shock caused by the Iran conflict, facing the risk of an "Energy-Finance Compound Crisis." They will review financing plans to support Korea Petroleum Corporation to stabilize oil prices and ensure crude oil procurement.

MaticHoleFiller

2026-03-30 19:00:48

Abstract generation in progress

Korea Development Bank (KDB) said in a statement on Sunday that the bank, the Export-Import Bank of Korea, and the Korea National Oil Corporation held an emergency meeting last Friday to coordinate responses to an energy shock triggered by the Iran conflict.

Relevant officials said that, affected by supply disruptions, rising bond yields, and a strengthening U.S. dollar, the “energy–financial composite crisis” risk is being continuously exacerbated.

The aforementioned banks will review financing support proposals for the Korea National Oil Corporation, covering areas such as liquidity for crude oil procurement, repayment of overseas debt, import financing, foreign-exchange hedging, and working capital loans.

The support measure is intended to ensure funding for crude oil procurement by this Korean state-owned oil enterprise, and help stabilize oil prices by lowering financing costs.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.