The Korea Trade Insurance Corporation (K-SURE) will provide US$1 billion to help an Indian mobile operator expand its network.
K-SURE signed a financing contract with Reliance Jio Infocomm in Romania on June 22. About 30 South Korean companies, including Samsung Electronics, participate in the network expansion project.
In 2015, Samsung Electronics worked with Reliance Jio Infocomm to build its LTE networks across India. K-SURE provided US$750 million at that time. Reliance Jio Infocomm is one of the largest telecom operators in India.
“We hope that our financial assistance to Reliance Jio Infocomm paves the way for the participation of South Korean companies in other projects in India, which is one of the main countries targeted by the South Korean government’s New Southern Policy,” said Yim Yang-hyun, head of the Investment & Finance Division of the corporation.