November 29, 2021

KDB commits $126m financing to satellite project

PUBLISHED : March 03, 2021 - 17:50

UPDATED : March 03, 2021 - 17:50

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

An artist's rendition of Satellite of Republic of Indonesia (Courtesy of Thales Alenia Space)

South Korea’s state-run lender Korea Development Bank said March 3 that it had agreed on a $126 million commitment to finance an artificial satellite project in Indonesia.

KDB is the first Korean lender to finance a space satellite project.

The bank’s funding is part of the latest batch of a $431 million project financing to the digital infrastructure project called Satellite of Republic of Indonesia (Satria). KDB joins lenders HSBC, Banco Santander and Asia Infrastructure Investment Bank, who inked the deal on Feb. 25.

Satria is a $545 million space project led by Indonesia telecommunication company Pasifik Satelit Nusantara. The infrastructure project aims to offer residents of the Indonesian archipelago a better digital access with a geostationary satellite. PSN has joined hands with France-based aerospace manufacturer Thales Alenia Space to begin the satellite construction, and US-based rocket maker SpaceX to send the satellite to orbit.

The PSN-led consortium is to transport the artificial satellite by 2023 and operate it for the next 15 years.

The KDB said in a statement that the move is in line with the New Space era led by the private sector.

Meanwhile, KDB has been building a track record as a project financing house. Its latest financing schemes went to the A465 road construction and Dogger Bank wind farm project in the United Kingdom, WestConnex motorway project in Australia, Changfang offshore wind farm project in Taiwan and Umm al-Hayman wastewater project in Kuwait.

By Son Ji-hyoung (

  • 페이스북
  • 트위터
  • sms
Herald Corporation|CEO : Jeon Chang-hyeop
Publisher. Editor : Jeon Chang-hyeop
Chief Privacy Officer & Juvenile Protection Manager : Kim Young-won
Title : The Investor|Date of registration : 2015.04.28
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. Seoul 아04099