Kim & Chang advised Crédit Agricole CIB and BNP Paribas (as ECA coordinators) and the Korea Trade Insurance Corporation (“K-SURE”) on a USD 1 billion K-SURE green loan for LG Chem’s construction and operation of the largest cathode material production facility dedicated to electric vehicles in the United States with an annual capacity of up to 60,000 tons per annum.

The Tennessee production facility is reported to be the first investment guaranteed by K-SURE under the recently-announced USD 200 billion bilateral fund (Link) to promote further Korean investment in the US. K-SURE guarantees are expected to play a major role in investments under this fund (creation of which was a condition to tariff settlements between Seoul and Washington).