KDB headquarters. Korea Development Bank
The Korea Development Bank (KDB) will arrange a large-scale acquisition financing package worth 2.5 trillion won, together with Woori Bank, for Doosan Group’s takeover of SK Siltron. The move is intended to support the build-out of the semiconductor value chain, a key national strategic industry, through productive finance.
According to financial industry sources on Tuesday, Doosan Group is set to sign a share purchase agreement with SK Group later this month to acquire a 100% stake in SK Siltron. With SK Siltron’s enterprise value estimated at around 5 trillion won, Doosan Group plans to raise 2.5 trillion won through KDB and Woori Bank, its main commercial bank.
KDB and Woori Bank are expected to provide 1 trillion won in acquisition financing through a syndicated loan involving multiple financial institutions, and another 1.5 trillion won to cover debt repayment obligations triggered by the change in shareholders. KDB, a state-run policy lender, is expected to take a larger share than Woori Bank. Woori Bank had earlier signed a memorandum of understanding with Doosan Group on financial support for building an ecosystem in future strategic industries and had been preparing to provide funding.
“It is correct that we will provide acquisition financing to Doosan Group together with Woori Bank,” a KDB official said. “The specific funding proportions are still under discussion.”
KDB also held a signing ceremony on the same day for a memorandum of understanding aimed at promoting joint investment between the National Growth Fund and regional financial groups. Financial authorities and regional holding companies agreed to strengthen mutual cooperation, including information sharing and co-investment, so that the National Growth Fund can actively contribute to balanced regional development.
“The National Growth Fund is significant in that it has shifted the very paradigm of finance from conservative management to productive investment,” Financial Services Commission Chairman Lee Eok-won said. “Finance must now go beyond simply staying in safe havens, look at future possibilities, and share risks together with companies.”
“It is more important than anything to move away from a Seoul-centric system toward a structure based on five economic hubs and three special zones, so we will direct 40% of the National Growth Fund’s 150 trillion won to regional areas,” KDB Chairman Park Sang-jin said.