A pedestrian walks past the entrance to a KB Kookmin Bank branch in Seoul, Oct. 11. Yonhap
KB Kookmin Bank has secured the lead arranger role in a 12.6 trillion won ($9.45 billion) project to build artificial intelligence (AI) computing infrastructure in Korea, the lender said Sunday.
Led by Brookfield, one of the world’s largest alternative asset managers, the project involves acquiring major high-performance computing equipment, including graphics processing units (GPUs), and supplying the infrastructure to Naver Cloud.
The deal marks the largest syndicated loan arrangement in Korea’s history. Such loans allow multiple financial institutions to jointly finance a large-scale project.
It is also the country’s first GPU financing deal — a departure from conventional project financing, which has typically centered on assets like real estate or power plants. Rather than relying on immediate returns, the structure uses anticipated long-term revenue from supplying AI computing capacity to support the project’s substantial upfront investment needs.
Of the 12.6 trillion won in total costs, roughly 10.7 trillion won will be raised through loans. As lead arranger, KB Kookmin Bank is overseeing the financing structure, assembling the lending syndicate and coordinating loan terms to secure the necessary funding.
Hana Bank, Shinhan Bank, Woori Bank and NH Investment & Securities are also reportedly participating in the financing.
KB Kookmin Bank said it plans to expand its support for strategic high-tech industries following the deal.
“This transaction is significant in that it opens up a new area of financing,” a bank official said. “We will continue to expand our support for industries driving growth ahead and contribute to strengthening the competitiveness of domestic industries by promoting productive finance.”