Exclusive: South Korea lining up banks to help finance $22 billion arms sale to Poland

📆 03/11/2023 09:51:00
📰 Reuters

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After hitting statutory limits on import-export lending, South Korea is gathering local banks to help Poland buy $22 billion worth of weapons in Seoul's largest arms sale, five people familiar with the matter told Reuters.

A K9 howitzer, delivered in the first batch of arms from South Korea under contracts signed in recent months, fires during a military drill at a military range in Wierzbiny near Orzysz, Poland, March 30, 2023. REUTERS/Kacper Pempel/File PhotoNov 3 -

Two officials from a Korean defence company confirmed the syndicated loan plan. Two officials at South Korean banks said there would be loans, but did not specify the type. The defence company official said that if the syndicated loan for the next proposed sale wasn't enough, "there could be other financing measures on the way".

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