K-SURE Signs Co-financing Agreement with U.S. EXIM Bank

Korea Trade Insurance Corp. (K-SURE) signed a co-fianancing agreement with the Export-Import Bank (EXIM Bank) of the United States in New York on Sept. 22 to cooperate to create a one-stop shop facility that will provide joint support for U.S. and Korean export projects in new and strategic industries, including critical minerals.

A signing ceremony was held at the Consulate General of the Republic of Korea Building in New York City with the attendance of K-SURE President Lee In-ho and Reta Jo Lewis, president and chair of the board of directors of the U.S. EXIM Bank.

This agreement was signed to broaden the scope of financial support for projects in which companies from both countries participate and to strengthen cooperation in reinsurance between the two countries' leading policy financial institutions.

Under this reinsurance agreement, K-SURE will systematically manage risks, ramp up support for projects to build the telecommunication industry in Latin America, respond to supply chain reorganizations with regard to semiconductors and secondary batteries and nurture strategic industries and boost export vitality, and aid the sub-Saharan African region to implement renewable energy project faster.

By diversifying joint financial support tools with global policy financial institutions and establishing a flexible risk-sharing cooperation system, K-SURE has strengthened its capability to help Korean companies win overseas project orders.