Korea Development Bank purchased new bonds worth US$68.6 million from Ssangyong Cement and Hynix Semiconductor to help them refinance their maturing debt.

Since January, the state-run bank has been purchasing bonds from companies under a government bailout program. Each month, the bank selects companies faced with massive maturing bonds and purchase new bonds equivalent to 80% of their maturing debt. Companies have to pay the remaining 20%.