Export-Import Bank and LH Sign MOU to Lead Smart City Overseas Expansion

Strengthening Cooperation to Expand Overseas Smart City and Infrastructure Development Projects
Expecting Synergy from K-Sure's External Policy Finance Capabilities and LH's Project Development Experience

Soo-eun Bank President Kyoo Bang-moon (left) and LH President Chang-hoom Byun are posing for a commemorative photo after signing the "Business Agreement to Strengthen Cooperation in Overseas Smart City and Infrastructure Development" at Soo-eun Yeouido Headquarters on the 3rd.

[Asia Economy Reporter Kangwook Cho] The Export-Import Bank of Korea (KEXIM) announced on the 3rd that it has signed a Memorandum of Understanding (MOU) with the Korea Land and Housing Corporation (LH) to expand domestic companies' orders in the overseas smart city and infrastructure development sectors.

The MOU between the two institutions mainly covers △organic linkage between Official Development Assistance (ODA) projects and investment development projects related to overseas smart city and infrastructure development △utilization of KEXIM's financing to activate investment development projects △discovery and development cooperation of promising projects.

After signing the MOU, President Bang said, "With the expanded cooperation between KEXIM, the dedicated policy finance institution for foreign transactions, and LH, a SOC public enterprise, we expect more active participation of our companies in the overseas smart city development sector."

As a foreign policy finance institution, KEXIM has various financial support tools and extensive experience in supporting overseas mid- to long-term projects, while LH, as a SOC public enterprise, has strengths in executing numerous industrial complex and urban development projects. Both sides expect that KEXIM's foreign policy finance support and LH's diverse project development experience will create great synergy in overseas projects such as Indonesia's capital relocation project and urban redevelopment projects in India through this MOU.

The two institutions plan to strengthen cooperation in the future not only in concrete project promotion but also in areas such as supporting innovative growth industries and regional development with New Southern and New Northern countries in terms of foreign economic cooperation.

Meanwhile, to ensure efficient operation of this MOU, the two institutions will mutually share their global networks and hold working-level councils.

This content was produced with the assistance of AI translation services.