Korea Eximbank Signs Business Agreement with Korea Health Industry Development Institute for Overseas Expansion of Medical Industry

Soo-Eun Bank President Kyoo Soo-nam (left in photo) and Korea Health Industry Development Institute President Kwon Soon-man met on the 13th at Soo-Eun's Yeouido headquarters to sign a "Business Agreement for Strengthening International Development Cooperation and Supporting Overseas Expansion of the Medical Industry."

[Asia Economy Reporter Jin-ho Kim] The Export-Import Bank of Korea (KEXIM) announced on the 13th that it has signed a memorandum of understanding (MOU) with the Korea Health Industry Development Institute (KHIDI) to strengthen collaboration in the field of international development cooperation in healthcare and to support the overseas expansion of the Korean medical industry.

On the morning of the same day, KEXIM President Bang Moon-kyu and KHIDI President Kwon Soon-man met at KEXIM’s headquarters in Yeouido and signed the MOU, which focuses on establishing policy cooperation between the two institutions.

The main contents of the MOU signed by the two institutions include ▲ establishing healthcare support strategies for EDCF priority partner countries ▲ strengthening cooperation throughout all stages of EDCF projects, including business model development and joint project discovery ▲ jointly discovering, advising, and financially supporting overseas-expanding bio companies and innovative pharmaceutical and medical device companies.

KEXIM has contributed to improving healthcare environments in developing countries through support from the Economic Development Cooperation Fund (EDCF), including hospital construction and medical equipment supply. Leveraging this MOU, KEXIM plans to establish healthcare cooperation strategies for new EDCF priority partner countries and concretize mid- to long-term support strategies by utilizing the expertise and systems of KHIDI, a specialized healthcare institution.

In particular, the two institutions plan to effectively respond to the expanding healthcare demands of developing countries by developing a ‘customized infectious disease response model for developing countries’ based on Korea’s quarantine system, covering diagnosis, epidemiological investigation, and treatment. Additionally, KEXIM will jointly discover companies aiming for overseas expansion in connection with KHIDI’s domestic bio company development projects, provide financial advisory services, and offer preferential financing.

At the signing ceremony, President Bang said, “Through comprehensive cooperation between the two institutions, we hope to contribute to the realization of universal health coverage in developing countries and to activate the overseas market entry of our bio companies.”

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