Posco, KB launch supply chain finance for steel suppliers

Posco said Thursday it had signed a memorandum of understanding with KB Kookmin Bank to launch a supply chain finance service aimed at improving liquidity for its steel industry suppliers.

The agreement, signed at Posco Center in southern Seoul, was attended by Posco President Lee Hee-geun and KB Kookmin Bank CEO Lee Hwan-ju.

The new financing program will connect companies across Posco's supply chain with the bank, helping suppliers secure funding more easily when faced with delayed payments or