|The Export-Import Bank of Korea (KEXIM) | |
Export Credit Agency (ECA) in Korea
The mission of Korea Eximbank is to provide financial support for export and import transactions and enhance Korea’s economic cooperation with foreign countries; promote economic cooperation between Korea and developing countries, and facilitate interchange and cooperation between South and North Korea.
A summary of The Export-Import Bank of Korea
The Export-Import Bank of Korea - Benefits of using an ECA in Korea
- Facilitating export transactions
- Conduct appraisal, conclusion of loan agreements, disbursement therefrom, and evaluate economic development aid
- Appraise, disburse, and provide ex-post management for grants and loans
Products and services offered by The Export-Import Bank of Korea
- Trade finance
History of The Export-Import Bank of Korea
1978: The Ministry of Finance decided to set up the Export-Import Bank of Korea. Korea Eximbank established(Authorized capital: KRW 150 billion)
1983: Diversified settlement currencies on export contracts
(4 countries→20 countries)Concluded a bank loan agreement with 46 foreign financial institutions including Chemical Asia Ltd.
(USD 300 million)Concluded a bank loan agreement with 17 foreign financial institutions including LTCB (JPY 10 billion)
2003: Launched monitoring program for the countries on the watch list created by Total
Exposure Limit Management System, they also launched Overseas Bank Ratings System
2014: Issued Global Bond (USD 1.25 billion, the first institution issuing the 10-year maturity bond among Korean institutions since the financial crisis in 2008). Selected as ‘the Best Asia ECA’ and ‘the Best ECA in the Middle East’ by Trade Finance Magazine
2015: Issued the largest Global Bond (USD 2.25 billion)Proclaimed ‘Ethical Management as Clean bank’. Provided USD 1.75 billion in project financing for Sabine Pass LNG Plant Project with 8 domestic financial institutions.Enhanced risk managing capability by reorganizing Risk Management Department. Provided IKCF fund for reconstructing the south side of Gyeongwon Line
Raw Materials – From tobacco to spices, gold to bronze, commodities represent a large proportion of our trade finance portfolio
Finished Goods – Our innovative structuring capabilities allow us to put together complex finance structures, even if the end goods are finished
Metals – From scrap metal to alloys, we help traders and distributors access trade, receivable or PO finance for iron, steel and non-ferrous metals
Are you an exporter based in South Korea?
See our TFG South Korea Export guide here .
English Website for The Export-Import Bank of Korea
Korean Website for The Export-Import Bank of Korea