The Korea Development Bank (KDB) said it will sign a $500 million currency swap deal with Industrial and Commercial Bank of China (ICBC), sina.com.cn reported on Wednesday.
KDB will provide ICBC's Seoul branch with loans in Korean won and ICBC will provide yuan-denominated loans to KDB's branch in China. This will be the first deal of its kind signed between a state policy bank and a commercial bank rather than between central banks.
