French satellite operator Eutelsat has secured around 1 billion euros ($1.2 billion) in export credit financing to fund the procurement of low Earth orbit satellites for its OneWeb constellation, the company announced on Wednesday.

Eutelsat, the satellite operator backed by the French and British governments, has placed an order with Airbus for 340 satellites to upgrade and expand its OneWeb low-Earth-orbit constellation, the companies announced on Monday.

South Korea has granted approval for U.S.-based SpaceX and U.K.-based OneWeb to offer satellite internet services within the country, the Ministry of Science and ICT announced on Friday.