Mercury's Legal Capital Increased from 15 Trillion to 25 Trillion Won... "Timely Response to Export Finance Demand"

The amendment to the Korea Eximbank Act, which increases the bank's statutory capital from 15 trillion won to 25 trillion won, was passed in the National Assembly plenary session on the 29th with 148 votes in favor, 29 against, and 34 abstentions out of 211 members present.

On the 1st, the 2nd plenary session of the 412th National Assembly (extraordinary session) is being held at the National Assembly. Photo by Hyunmin Kim kimhyun81@

This amendment was based on proposals submitted by Yoon Young-seok and Park Jin of the People Power Party, and Jeong Seong-ho and Yang Ki-dae of the Democratic Party of Korea. It also fully reflected the government's opinion that a prompt expansion of the Korea Eximbank's statutory capital is necessary to timely respond to the rapidly increasing demand for export financing.

The amendment will take effect immediately upon promulgation.

The government stated, "The actual payment of capital following the increase in the statutory capital limit will also be promptly pursued."

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