Export-Import Bank of Korea and Kookmin Bank Join Forces to Help Korean Companies Secure Overseas Markets

MOU Signed for Financial Cooperation in External Transactions
Joint Financing through Cooperative Loans Planned for Companies' Overseas Projects and New Growth Industries

Sangkyu Bang, President of K-Sure (left), and Huh In, President of Kookmin Bank, met on the afternoon of the 24th at K-Sure's Yeouido headquarters to sign a Memorandum of Understanding (MOU) to strengthen external cooperation and took a commemorative photo.

[Asia Economy Reporter Jo Gang-wook] The Export-Import Bank of Korea and KB Kookmin Bank are strengthening their cooperative relationship to help Korean companies secure overseas markets.

The Export-Import Bank announced that President Bang Moon-kyu of the bank and President Heo In of KB Kookmin Bank met on the afternoon of the 24th at the Export-Import Bank's Yeouido headquarters to sign a Memorandum of Understanding (MOU) to enhance external cooperation.

The MOU signed by the two banks includes key contents such as △ joint support for project financing △ financial support for domestic companies expanding overseas △ expansion of trade finance support, focusing on expanding overseas joint ventures of 'policy finance' and 'private capital.'

After signing the MOU, President Bang said, "To support Korean companies newly entering new businesses such as renewable energy to secure overseas markets, we will strengthen the cooperative relationship between the two institutions by sharing the accumulated experience and know-how of project financing support."

Building on this MOU, the two banks plan to provide joint financing through cooperative loans for large-scale overseas projects and new growth industries that require substantial financial procurement in response to changes in the economic environment.

Earlier, in June, the two banks jointly supported domestic companies' entry into overseas infrastructure projects by submitting a financial investment commitment letter (LoC) worth 1.3 billion Australian dollars for a public-private partnership (PPP) highway bid in Australia involving Korean companies.

An official from the Export-Import Bank said, "When our companies expand overseas, the co-entry model between the policy bank and private financial institutions created by the two banks is expected to lead to sufficient financial support, greatly helping to secure overseas markets."

Meanwhile, the Export-Import Bank has been strengthening partnerships with commercial financial institutions, having signed MOUs with Shinhan Bank in May and Hana Bank in June.

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