According to CoinMeta, on Monday, the Korea Import-Export Bank announced that it would provide a $1 billion loan to the global commodities giant Glencore in exchange for its supply of copper to Korean companies. With the booming development of the artificial intelligence industry, South Korea is seeking to ensure the supply of key raw materials. The loan will be provided to Glencore International, which is headquartered in Switzerland, and the funds will be used for general operations. The bank stated that Glencore has agreed to supply copper to Korean companies during the loan period, but no specific details were disclosed. South Korea is highly dependent on imported copper, and with the surge in artificial intelligence data centers and the growing demand for electricity, the price of copper has risen by about 15% this year, approaching historical highs. An official from the Korea Import-Export Bank said, "Through this financing, we will be able to ensure a stable supply of key raw materials for South Korea's advanced industrial supply chain."