AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
The Korean Eximbank announced providing loans with a total value of USD 295 million to the Korean company Hanhwa Chemical. The loans will finance the Korean company's bid to acquire the 49.9% of the solar modules manufacturer Solarfun. The solar manufacturer was established in China in 2004 and operates worldwide including Europe and the United States.
In this context, a Korea Eximbank official stated: "The recent acquisition could provide a strong impetus to help Korean companies become global leaders in the field. We plan to actively assist Korean companies increase competitiveness by financing M&As."
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.
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