Yoon Hee-sung, President of the Export-Import Bank, "No Promise of Financial Support for Czech Nuclear Power Plant"

National Assembly Planning and Finance Committee Audit
'Letter of Interest' Responded as "Issued as a Custom by Export Credit Agencies"

Yoon Hee-sung, President of the Export-Import Bank, is delivering the inaugural speech at the "Supply Chain Stabilization Fund Launch Ceremony" held on the 5th at the Export-Import Bank in Yeouido, Seoul. Photo by Kang Jin-hyung aymsdream@

Yoon Hee-sung, President of the Export-Import Bank of Korea, stated regarding the export of nuclear power plants to the Czech Republic that "there has been no request for financial support nor any promise made."

On the 21st, President Yoon agreed with the statement by Park Seong-hoon, a member of the People Power Party, during the National Assembly's Planning and Finance Committee audit, who said, "Financial support was not included in the Czech government's nuclear power plant bidding requirements," and responded accordingly.

Regarding the "letter of interest" issued by the Export-Import Bank during the Czech nuclear power plant contract process, President Yoon explained, "It was issued as a customary practice by an export credit agency," adding, "It has no legal binding force, nor does it promise financial support."

He further clarified the phrase "most favorable" in the letter, stating, "It did not mean unconditionally setting preferential terms such as the lowest interest rate or the longest period."

Earlier, Cha Gyu-geun, a member of the Innovation Party for Justice, pointed out that the Export-Import Bank had promised financial support for the Czech nuclear power plant, which differs from the government's explanation that the Czech Republic would directly raise the funds.