Overseas Synergy
The Export-Import Bank of Korea (Korea Eximbank) announced that it signed a memorandum of cooperation with Seoul National University Hospital to establish a strategic cooperative relationship for the overseas expansion of the hospital.
On May 14, Korea Eximbank President Lee Duk-hoon and Seoul National University Hospital President Oh Byung-hee met at Seoul National University Hospital in Jongno-gu, Seoul, to sign the agreement. It includes articles to exchange mutual information for effective plans for the overseas expansion of Seoul National University Hospital, to jointly discover promising business, and to provide effective financial support for new business.
Integrating Korea Eximbank’s expertise of financial support for overseas projects with Seoul National University Hospital’s operational know-how for a world-class medical system, this agreement was signed to create synergy effects.
The two organizations, which represent the financial and medical sectors, can now establish the close cooperative system from the early stage of the overseas expansion in the medical area.
With comprehensive and efficient cooperation between the two organizations, Korea Eximbank will provide active financial support in development projects to establish its university hospital abroad, consignment management on global leading hospitals, and export of the medical information system.
Korea Eximbank President Lee Duk-hoon said in the signing ceremony, “The medical industry is the area that creates high added value and has high employment effect when it successfully taps into the global market. With the agreement, Korea Eximbank will serve as a reliable financial partner so that Seoul National University Hospital can become the global leading player in the medical industry.
Until now, Korea Eximbank has offered a total of 1.0861 trillion won (US$995.24 million), including export financing and EDCF, to 29 projects from 14 countries, such as Vietnam, Indonesia, and Honduras, in a bid to help Korean medical institutions make inroads into the global market.
Seoul National University Hospital was selected as the consignment operator for Sheikh Khalifa Specialist Hospital in the UAE in July last year. Also, it exported the next generation medical information system to six hospitals under the Ministry of National Guard of Saudi Arabia last month, leading the overseas expansion of Korean medical system.