Krakatau POSCO, a joint venture between South Korea's POSCO and Indonesia's PT Krakatau Steel, has signed a memorandum of understanding with Bank Woori Saudara for a $200 million loan. This financing will support supply chain operations and working capital for sourcing local raw materials. The loan aims to bolster the company's competitiveness against Chinese steel imports, with plans to utilize up to 30% local iron ore and coking coal by 2026. President Director Jung Bum-Su emphasized that this funding will contribute to Indonesia's economic development through a stable steel supply.