Opening Ceremony of Su-eun Singapore Corporation "Pioneering Role in Overseas Orders and Exports for Domestic Companies"

[Asia Economy Reporter Yoo Je-hoon] The Export-Import Bank of Korea (KEXIM) announced on the 24th that it officially commenced operations by holding an opening ceremony for its Singapore branch on the 23rd (local time). The opening ceremony was attended by a large number of key figures, including Choi Hoon, the Ambassador to Singapore, as well as representatives from major investment banks, international financial institutions, and investment funds.

In his congratulatory speech, President Yoon Hee-sung stated, "The KEXIM Singapore branch will serve as an innovation center that elevates KEXIM’s overseas policy finance, which has accompanied South Korea’s export-driven economic development over the past 46 years, to a new level. We expect it to play a pioneering role in providing flexible and creative financial solutions in line with changing markets, helping domestic companies facing crises to secure overseas orders and overcome export slumps."

KEXIM plans to establish its Singapore branch as a policy finance hub covering the Middle East and Asia-Pacific regions, building close networks with major local clients, investment banks, and international financial organizations to provide close support for overseas orders and investment development by Korean companies.

Meanwhile, immediately after the opening ceremony, the KEXIM Singapore branch signed an investment agreement with the International Finance Corporation (IFC), a member of the World Bank Group, for an "Emerging Markets Infrastructure Fund," officially starting its operations. Once investment begins after due diligence and other processes, this will mark the first case of KEXIM investing in offshore funds through its overseas local branch. It is also expected to establish a deal-sourcing network that regularly shares key investment project information with international organizations and advanced development finance institutions participating as co-investors.

Ruth Horowitz, IFC Vice President, said, "We welcome the signing of the investment agreement with KEXIM, a leading Korean ECA actively cooperating with international organizations and DFIs. We look forward to close cooperation between the two institutions in supporting projects for sustainable growth, including emerging countries’ climate change response."

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