Export-Import Bank of Korea and Commercial Banks Launch "Global Expansion K-Finance Council"

The Export-Import Bank of Korea announced on March 2 that it has launched the "Global Expansion K-Finance Council" in partnership with six commercial banks-KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, NongHyup Bank, and Suhyup Bank.

The Export-Import Bank of Korea and the commercial banks plan to operate both a regular council composed of vice presidents and a working-level council involving department heads, with the aim of realizing productive finance in practice. Through the council, the banks intend to: ▲ share market information and trends related to overseas contracts and expansion of domestic companies; ▲ identify promising projects early and assess financial demand; ▲ and collaborate on providing tailored financial support by structuring joint loans and guarantees for businesses.

Support will be provided for large-scale contract businesses such as shipbuilding, defense, and nuclear power, as well as major new growth industries including artificial intelligence (AI). Lee Donghoon, Vice President and Head of Global and Capital Markets Division at the Export-Import Bank of Korea, stated, "The Export-Import Bank of Korea will take the lead in ensuring project stability and facilitating the smooth provision of abundant private sector liquidity to support Korean companies' overseas expansion."

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