14th Press Conference
Indicating Willingness to Provide Policy Finance Is the Core Function of Export Credit Agencies
"Not an Unfair Financial Privilege"
Regarding Electricity and Gas Price Increases, It's a Matter of 'Timing and Level'
Anduk Geun, Minister of Trade, Industry and Energy, stated on the 14th, "It is truly regrettable that allegations continue to arise claiming that unfair financial support was promised or that the Czech nuclear power plant contract was won at a low price."
Minister Ahn held a press briefing at the Government Complex Sejong on the same day and said, "There is great concern as suspicions regarding the Czech nuclear power plant contract are repeatedly spreading."
Minister Ahn emphasized, "Offering policy finance intentions during large-scale project contracts is the inherent function and a natural practice of public export credit agencies such as the Korea Trade Insurance Corporation and the Export-Import Bank of Korea. However, since public export credit agencies must comply with the 'OECD Arrangement on Officially Supported Export Credits,' which is an international agreement on export finance, it is impossible to provide excessive financial conditions beyond this."
He also refuted the dumping allegations. He said, "Currently, even Czech media and French media (which was a competitor) are reporting that 'there was not much difference in price between Korea and France's bids.' I do not understand why such claims are being made. There is really no reason to undercut prices through dumping." He added, "(The dumping allegations regarding the Czech nuclear power plant) are equivalent to saying that all exports of key industries by Samsung, LG, and Hyundai are dumping."
Regarding the increase in energy prices such as electricity and gas rates, he reaffirmed the position that it is still a matter of "timing and level." Minister Ahn said, "I believe that electricity and gas prices should be normalized quickly," and added, "Although the international situation is complicated, we are conducting practical reviews and plan to soon hold consultations with related ministries."
On the same day, Minister Ahn also expressed his determination to do his best to achieve this year's "record-high" exports. He said, "It feels like departing from the last base camp to summit the Himalayas," and added, "Just as we might have to retreat due to bad weather such as clouds covering the mountain peak, there are many uncertainties in the global geopolitical environment, but we will do our utmost with the Korean industrial sector to achieve the highest performance this year."
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