AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
The Korean Eximbank and KDB's loans for the acquisition of an oil and gas field in Texas, the United States has a total value of USD 25 million each in Reserve Based Financing. Reserve Based Financing is a "financing technique in which financing is provided based on future expected cash flow from oil/gas field project". The USD 50 million will finance the Korean Troika Fund's acquisition of Apache Corporation's natural gas field. The Korean fund was established by the Ministry of Knowledge and Economy of Korea and has investors from both the public and private sector.
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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